Paul Shread

Technology stocks remained under pressure Monday for a second day following Microsoft’s disappointing results. Techs lagged blue chips for much of the day and were clinging to the flatline when CNBC reported that Fed Chairman Ben Bernanke said the market misinterpreted his testimony last week that the Fed may pause in its long rate-hike campaign. […]

The Dow and S&P (first two charts below) are hanging on near multi-year highs while the Nasdaq (third chart) continues to correct. A lot of rotation and selective buying, but it has yet to hurt the overall market, and first of the month inflows could support the market again on Monday. The Dow faces major […]

Shares of Microsoft tumbled 11% Friday on multiple downgrades after the software giant reported earnings and guidance that that were below Wall Street forecasts. Microsoft’s results for the fiscal third quarter that ended March 31 were below analysts’ estimates, but what caught the Street by surprise was the company’s plans to up fiscal 2007 spending […]

A wild day today, with huge outside days eclipsing yesterday’s range on all the indexes. The downside is that internals were poor: up/down volume, advance-declines and new highs/lows all left much to be desired, and small caps ended the day in the red. Once again, selective buying is threatening to undo a rally. Let’s see […]

Microsoft late Thursday reported fiscal third-quarter earnings and sales that came up short of Wall Street estimates. Microsoft’s earnings of 32 cents a share were a penny shy of estimates. Sales climbed 13% from the year-ago quarter to $10.9 billion, but analysts were looking for revenues of $11.04 billion. Redmond’s June quarter guidance was also […]

The Nasdaq (first chart below) has become the laggard this time; perhaps Microsoft’s earnings tomorrow night can change that. The techs continues to hang on to 2328-2333 support, but they haven’t been able to translate that into much buying interest yet. 2320, 2310 and 2300 are the next support levels, and 2350-2354 and 2375 are […]

Microsoft’s quarterly earnings, congressional testimony from Fed Chairman Ben Bernanke and first-quarter GDP could make for an eventful couple of days for investors. Bernanke will appear before the Joint Economic Committee Thursday morning to deliver his views on the economy. The expectation is that Bernanke will stick with the Fed’s recent statements that interest rates […]

The Nasdaq (first chart below) continues to cling to 2328-2333 support. Below that, 2320, 2310 and 2300 are potential support levels. 2338, 2350-2354 and 2375 are resistance. The Dow (second chart) faces resistance at 11,310 and 11,350-11,426, and support is 11,250-11,260 and 11,180-11,200. The S&P (third chart) has support at 1293-1295, and resistance is 1305-1306, […]

Amazon reported stronger than expected first-quarter sales late Tuesday and also raised its second-quarter and 2006 guidance. Amazon’s first-quarter earnings of 12 cents a share were in line with Wall Street estimates. Operating income declined 2% to $106 million. Net sales rose 20% to $2.28 billion, ahead of $2.22 billion forecasts. Expenses continued to rise […]

EMC unveiled its data security strategy on Tuesday, including a new services offering and the availability of digital rights management software through its recent acquisition of Authentica. Lost data tapes, database breaches and regulations requiring secure data retention moved storage security to the forefront last year. In response, EMC and other vendors have been scrambling […]

The Nasdaq (first chart below) barely held onto 2328-2333 support today. Below 2325, 2315, 2310 and 2300 are potential support levels. 2350-2354 and 2375 are resistance. The Dow (second chart) faces major resistance at 11,350-11,426, and support is 11,300, 11,280, 11,250 and 11,200. The S&P (third chart) has support at 1303-1305 and 1300, and resistance […]

Shares of Sun Microsystems leapt 9% in late trading Monday on news that CEO Scott McNealy will step down after 22 years at the helm. President and COO Jonathan Schwartz will take over as CEO, effective immediately, while McNealy will remain chairman and a full-time Sun employee. The company has long been under pressure from […]