Paul Shread

QLogic will spend some of its cash hoard to move into the InfiniBand (IB) market. The Fibre Channel HBA vendor and switch maker will pay $109 million for IB startup PathScale and assume the firm’s outstanding unvested stock options. PathScale is developing System Area Network fabric interconnects for high-performance clustered system environments. The company has […]

The Nasdaq (first chart below) continues to be the laggard here. Resistance is 2280, 2285 and 2290-2295, and first support is 2267. The S&P (second chart) faces resistance at 1283-1284 and 1293-1295, and support is 1275 and 1270. The Dow (third chart) continues to lead, and it looks like it could gain another 100-150 points […]

HP continued to impress Wall Street analysts with its turnaround late Wednesday, posting quarterly earnings that handily beat expectations. HP’s earnings of 48 cents a share were four cents ahead of estimates, and sales of $22.55 billion were $100 million above expectations. The company’s 6% sales growth was driven by 8% gains in personal systems […]

The Nasdaq (first chart below) recovered from yesterday’s close below its multi-year trendline at 2245, which remains critical support, with 2230-2232 the next level below. Resistance is 2267, 2280, 2290 and 2297-2300. The S&P (second chart) has support at 1270 and 1263, and resistance is 1282 and 1290. The Dow (third chart) continues to lead […]

HP and Dell will give tech investors much to think about this week when they release their quarterly earnings. HP will report after the close on Wednesday, along with Applied Materials and Network Appliance . Analysts are looking for earnings of 44 cents a share from HP, and sales are expected to climb 5.1% to […]

The Nasdaq (first chart below) fell back below its multi-year trendline today, a defeat for the bulls. Resistance is now 2245, with 2260 above that, and support levels are 2230-2232, 2220 and 2200. The S&P (second chart) has support at 1255 and 1246-1250, and resistance is at 1269 and 1275. The Dow (third chart) has […]

Google shareholders could be forgiven if they spend Valentine’s Day wondering where the love has gone. Google shares lost 4.7% Monday, and have now shed 27%, or $130, from their all-time high of $475.11 set last month. The selling began in earnest two weeks ago when the search giant missed Wall Street estimates, and it […]

A startup claims to have broken through the “security ceiling” limiting the application acceleration market. Burlington, Mass.-based Certeon on Monday unveiled its Secure Application Networking WAN acceleration solution, which the company claims can “dramatically improve application response times while maintaining security from the data center to the desktop.” The result, says Certeon CEO Peter Dougherty, […]

Nice save by the bulls today, as the Nasdaq (first chart below) came back from what would have been a significant breakdown. For next week, critical support is 2245, and resistance is 2267, 2280-2290 and 2300. The S&P (second chart) faces resistance at 1269, 1272 and 1275, and 1260, 1255 and 1246-1250 are support. The […]

Stocks staged a dramatic turnaround Friday, as an early sell-off on fears of inflation and an economic slowdown turned into gains by day’s end. The market tumbled in the first hour of trading, as a record high in the trade deficit and a steepening yield curve — short-term interest rates higher than long-term ones — […]

An early rally in the tech sector gave way to selling Thursday after a Federal Reserve official hinted at higher interest rates. Stocks started higher for a second day on carryover buying from Cisco Systems’ solid results late Tuesday, and strong earnings reports from Best Buy and Aetna also brightened the mood. But comments from […]

A wobbly day and another test of major support on the Nasdaq (first chart below), but the bulls pulled it out today. Still, the Nasdaq faces some tough overhead resistance from here. 2260 is first support, and 2240-2247 is major support. Resistance is 2280, 2290 and 2300. The S&P (second chart) has first support at […]