Paul Shread

An earnings and revenue disappointment from IBM coupled with slowing growth from Apple renewed fears of an economic slowdown on Thursday. Shares of Apple fell 9% Thursday despite stellar results, as investors fretted about the company’s prediction of flat sequential growth in the current quarter and a 13% jump in the company’s shares due to […]

After yesterday’s impressive reversal, today was a disappointing trip back to critical support levels for the market. The Nasdaq (first chart below) is right back at the critical support level of 1968-1970; below that would look like the start of another leg down for the techs. Resistance is 1992, 2000, 2010, 2030 and 2040-2050. The […]

Apple made a mockery of analysts’ estimates once again after the close on Wednesday. Apple’s earnings of 34 cents a share were a dime better than Wall Street forecasts, and sales soared 70% to $3.24 billion, topping $3.21 billion estimates. Apple shipped 5.3 million iPods and 1.07 million Macintosh units in the quarter. Apple also […]

The end-to-end storage technology that could replace decades-old block and SCSI technologies made its debut at the Storage Networking World conference this week. Seagate, Emulex and IBM have teamed up on a joint technology demonstration of Object-Based Storage Devices (OSD) (see A Storage Framework for the Future). Object-Based Storage is an extension of the current […]

An impressive high-volume reversal today, with high put volume too. Some follow-through to the upside is likely, but will it be enough to take the indexes through some major resistance levels? The Nasdaq (first chart below) faces major resistance at 2023-2025 and 2040-2050, and support is 2000, 1993 and 1968-1970. The Dow (second chart) has […]

As government mandates go, Sarbanes-Oxley is about as onerous and burdensome as they get, costing millions of dollars per publicly traded company to implement. The surprise is that it might be worth all the cost and headaches, at least for investors, and perhaps for publicly traded companies too. Compliance Week teamed up with Raisch Financial […]

According to two new reports, storage security is a big concern for IT managers — and for good reason. In a Web poll released Monday, the Computing Technology Industry Association (CompTIA) found that data protection and security are the biggest challenges for IT professionals involved in managing storage networks for their organizations. Nearly one-third of […]

The indexes remain stuck, but at least they’re holding support. The Nasdaq (first chart below) is clinging to its 200-day moving average. Resistance is 2015 and 2023, and support is 1985 and 1977. The Dow and S&P (second and third charts) continue to hang on above their main downtrend lines that the indexes broke out […]

Downgrades to Apple and IBM kept stocks in check on Monday. Shares of Apple dropped 4% after an analyst said the company’s success story might have an ending. Mark Stahlman of Caris & Co. downgraded Apple to “average” from “above average,” citing rising competition and a new Microsoft operating system that could keep the “halo” […]

The Nasdaq (first chart below) stumbled at 2023 resistance today — a big level for the techs, with both a rising resistance line and an old low causing sellers to line up at that level. Support is 1993 and 1975. About the only thing the Dow (second chart) did right today was stay above the […]

Accenture beat Wall Street estimates and raised guidance late Thursday, but the stock tumbled 5% in Friday trading on worries about falling profit margins. Accenture’s earnings of 35 cents a share on revenues of $3.81 billion beat analyst estimates, and the company raised June quarter guidance to 48-50 cents a share on revenues of $4-4.2 […]

Xiotech, the largest privately-held storage company, has abandoned its proprietary platforms in favor of industry-standard and open source technologies. The company, a 9-year-old Seagate spin-off that generates about $100 million in annual revenues and boasts nearly 1,400 customers, announced its first product this week in a new direction: the Magnitude 3D 3000, which uses Intel […]