Paul Shread

The market stabilized today, but now buyers need to come in. The S&P (first chart below) recovered some support that was lost yesterday, but it needs to clear 1220-1222 for the bulls to get back in charge. Support levels are 1210, 1206 and 1195-1200. The Dow (second chart) needs to get back above 10,485, with […]

HP announced plans to buy back an additional $4 billion in stock after the close on Thursday. HP repurchased $2.1 billion of its shares in its first three fiscal quarters ended July 31. The company has about $800 million remaining under its September 2004 buyback plan. HP said the share buyback will offset dilution from […]

The Dow and S&P (first two charts below) are threatening to go into free fall here. The next support levels on the S&P are 1206 and 1195-1200, and resistance is now 1212, 1214, 1220 and 1225. The Dow’s next support is 10,405, with 10,300 major support below that, and resistance is now 10,480-10,500 and 10,540. […]

Baidu.com , the Chinese search provider that made a big splash in its Wall Street debut earlier this month, reported sales that nearly tripled in its first quarter as a publicly traded company. Baidu’s second-quarter revenues soared 189% to $8.4 million, growing 53% sequentially from the first quarter. The company’s net income was $1.5 million […]

Shares of Lucent rose 4% Tuesday after a Prudential analyst upgraded the stock from “neutral” to “overweight.” Analyst Inder Singh said strong wireless and services sales could boost Lucent’s earnings over the next few months. Singh raised earnings estimates on Lucent for the next two quarters, and said the company could also cut 15-20% of […]

Nexsan Technologies has unveiled an appliance that offers storage, management and security in a single box. Nexsan says its Assureon product is aimed at organizations that need to address issues such as regulatory compliance and information lifecycle management (ILM). Assureon offers advanced encryption, authentication and data protection combined with lifecycle management, RAID hardware and content […]

Stocks went nowhere for the fourth straight day, as a rally failed once again. The Nasdaq (first chart below) put in an “outside day” to follow Friday’s “inside day” — it would be hard for the index to reflect greater indecision than that. Resistance is 2150 and 2167, and support is 2128-2132, 2114-2116 and 2106. […]

Reports of a joint development deal between Intel and Research In Motion boosted shares of both stocks on Monday. The deal, expected to be announced at this week’s Intel Developer Forum, could see RIM agreeing to use Intel chips, and Intel adopting RIM’s battery-saving technology for use in its chips, according to CNBC and other […]

Overland may be facing an uncertain future with the loss of its biggest customer, but ADIC likes what it sees. ADIC disclosed in an SEC filing Friday that it had taken a 9.3% stake in Overland and had met to discuss “a possible business combination.” ADIC began acquiring shares of Overland on August 4 — […]

Stocks went nowhere for the third straight day today, setting up a possible big move next week. The Nasdaq (first chart below) had its second straight doji — or unchanged day — at its 50-day moving average, and today was also an “inside day,” meaning it was completely within yesterday’s range. That’s a good set […]

Shares of IBM rose 2% Friday on positive comments from Prudential analysts. “We continue to believe there are a number of important catalysts on the horizon for IBM which should help reinvigorate investors in the stock during the seasonally strong back half of the year,” analysts Steven Fortuna and Jeffrey Constantino wrote in a research […]

The Nasdaq (first chart below) remains stalled following Tuesday’s big breakdown. Resistance is 2150 and 2162, and support is 2130-2131, 2114-2116 and 2106. The S&P (second chart) is hanging onto its 50-day moving average, and also held an uptrend line today, but the index now needs to turn up. Support is 1216, and resistance is […]