Paul Shread

Worries about a possible hard drive price war and lukewarm guidance from Adobe limited tech stock gains on Friday. Adobe beat Wall Street estimates after the close on Thursday, but investors sent the stock 3.3% lower Friday after the company’s third-quarter guidance was a little light of expectations. Seagate , meanwhile, fell 6.4% after Merrill Lynch said […]

The Nasdaq (first chart below) is pushing very important resistance in the 2096-2100 range. Internals were stronger than the major indexes today, which suggests stealth buying and support for a Nasdaq assault on the 2100 level. Above that, the index has resistance up to 2118, and then it’s in the clear until 2150 and 2200. […]

Adobe beat Wall Street estimates after the close on Thursday, but investors were unimpressed. Adobe’s second-quarter earnings of 28 cents a share beat estimates by a penny, and revenues rose 21% to $496 million, also topping forecasts. For the third quarter, Adobe said it expects to earn 25-27 cents a share on revenues […]

The indexes continue to remain stuck in a month-long trading range, but at least dips are getting bought. Now can they break out? The Dow (first chart below) continues to be halted at the 10,589-10,620 resistance zone. Above that and the blue chips could run. Support is 10,500, 10,437 and 10,405. The S&P (second chart) […]

Shares of Philips fell 4% Wednesday after the company warned of “extremely poor” consumer demand in Europe. ”Economic indicators around the world point to reduced growth rates,” Gerard Kleisterlee, CEO of the Dutch electronics giant, said in a statement. “Europe in particular is suffering from a weakened consumer retail environment in the second quarter, […]

The indexes continue to remain stuck in a nearly month-long trading range. Perhaps tomorrow’s CPI can change that; at least the Dow and S&P closed near the top of their ranges ahead of that report. The Dow (first chart below) remains stalled at the 10,587-10,620 resistance zone. The index has put together seven straight small-bodied […]

Shares of Google have taken a break in recent days for the first time in more than two months amid worries about second-quarter results. The stock has corrected 7% since stopping just short of $300 last week amid reports of softness in search keyword pricing. On Tuesday, Google slipped another 1.6% after […]

Diligent Technologies revealed this week why top-tier venture capitalists were willing to shell out so much cash last year for a product they had yet to see. Boasting gaudy numbers both in performance and cost-savings, Diligent unveiled its ProtecTIER platform and HyperFactor factoring technology with claims that the technology can eliminate redundant data and decrease the […]

The Dow (first chart below) continues to stall at the 10,573-10,620 resistance zone. A funny pattern the last few weeks; because it’s occurring after a rise in the index, odds may favor a break up, but watch the boundaries to be sure. Support is 10,430-10,433 and 10,405. The S&P (second chart) is another index with […]

Investors hoping that the Federal Reserve will soon cease its year-long interest rate-hike campaign will be paying close attention to two government inflation reports due out this week. The Producer Price Index will be reported Tuesday morning, followed by the Consumer Price Index Wednesday morning. Both numbers are expected to come in tame, with neither […]

Driven by compliance, data protection and management needs, storage software continues to grow more than twice as fast as the storage hardware market. According to IDC’s Worldwide Quarterly Storage Software Tracker, the storage software market grew 14.9% year over year to $2.1 billion in the first quarter of 2005, the sixth straight quarter of double-digit […]

The Nasdaq (first chart below) continues to struggle here; it’ll have to take out 2097-2100 soon, or the risk could shift to the downside. Support is 2050-2055 and 2040-2042, and 2070 is first resistance. The S&P (second chart) has important short-term support at 1192, with 1185 and 1180 below that. Resistance is 1205, 1208-1210 and […]