Paul Shread

Stocks might not have moved very much this week, but the news that occurred could be felt by investors for a long time. It could go down as the week that the Fed’s rate hike campaign was brought to a screeching halt and investors lost some of their hard-won protections of the last few years. […]

Network Appliance and Dell were the fastest-growing storage vendors in the first quarter, according to IDC, posting year-over-year external storage revenue growth of nearly 30 percent each. EMC, the third-fastest grower among the top vendors at 12.2 percent, continued to expand its lead in the external storage market, increasing its market share from 20.4 percent […]

The Nasdaq (first chart below) ended the day just below the major 2100 resistance level today; above 2100-2117, the techs could run. Support is 2085 and 2065. The one negative for the techs is that they look pretty overbought here, but sentiment still appears to be a long way from toppy. The S&P and Dow […]

They’ve been down so long they may have forgotten which way is up, but some telecom stocks may be starting to remember. The Nasdaq is up 10% off its April lows, but that pales in comparison to some of the gains logged by telecom equipment stocks. Corning , Ciena , Broadwing and ADC Telecom are […]

A day after Piper Jaffray set a $300 price target on shares of Google , CS First Boston said that wasn’t high enough, raising its target to $350. CSFB, an underwriter of Google’s August IPO, raised its target after its previous $275 target was hit, saying Google’s phenomenal growth and potential have yet to be […]

Cisco continued to steal market share from its storage switch rivals in the first quarter, but high-end switch leader McData showed signs of stabilizing, according to a new report from the Dell’Oro Group. The storage area network (SAN) Fibre Channel market grew 10 percent year-over-year in the quarter, and port shipments grew 38 percent, “indicating […]

Novellus and Google were bright spots for stocks on an otherwise down day for Wall Street. Novellus rose 3% after the chip equipment maker raised guidance, saying it now expects second-quarter earnings of 20 to 22 cents, ahead of analysts’ 19-cent estimates. The company expects sales to come in at $325-$330 million, also ahead of […]

Stocks were mixed in midday trading on Friday, which was something of a victory for bulls after disappointing earnings and economic reports. Tech Data managed to eke out a small gain despite starting the day out 7% lower on earnings and guidance that were below Wall Street estimates. Computer Associates didn’t fare as well, however, […]

Another nice little breakout by the Nasdaq (first chart below) today, which managed to recover a trendline broken in March. The index stopped at the top of a gap down in January; above 2073, the index could be headed for the next major resistance level at 2090-2100. Support is 2065 and 2055, and 2030 is […]

Computer Associates and Tech Data reported quarterly results after the close on Thursday that weren’t quite as strong as Wall Street analysts were looking for. CA’s pro forma earnings of 20 cents a share met estimates, and cash flow grew 26% to $738 million, but sales of $910 million were below Wall Street estimates, and […]

The Nasdaq (first chart below) didn’t do much damage to the downside today, barely even testing its steepest uptrend line. 2043 and 2025 are important support levels for Thursday, and a move above 2065 could lead to a challenge of the next major resistance level at 2090-2100. The S&P (second chart) has support at 1186, […]

Google and eBay benefited from positive comments by Goldman Sachs on Wednesday. Goldman reiterated “buy” ratings on Google, eBay and Yahoo , saying the three have stronger growth and profitability than the sector average. New media will benefit the most from growing broadband adoption, Goldman analyst Anthony Noto predicted in his annual Internet usage study. […]