Paul Shread

Noncompliance really does cost. Just this week, JPMorgan Chase paid securities regulators $2.1 million to settle claims that the financial services giant failed to retain business-related email for a three-year period. As part of the settlement, JPMorgan agreed to establish appropriate controls for email communications within 90 days. “The total cost to JP Morgan was […]

The Nasdaq (first chart below) ran into 2100-2106 resistance today, a key level the techs will have to clear if they’re going to extend this rally. On the plus side, the index held support at its old downtrend line, which should be at about 2078 for tomorrow. The Dow (second chart) pushed its yearly high […]

Digipede Technologies has unveiled what the company claims is the first commercial distributed computing solution based entirely on Microsoft .NET. Digipede claims its Digipede Network “radically improves the performance of real-world business applications and is easier to buy, install and use than other solutions.” “The Digipede Network … enables a new user to go from […]

The wedding bells that rang for MCI and Verizon on Valentine’s Day threaten to leave BellSouth on the outside looking in. With SBC snapping up AT&T and Verizon bulking up with MCI, BellSouth could find itself in a tougher competitive position, and the company has so far expressed no interest in joining the merger mania […]

Chip stocks surged 3.6% Friday, spurred by an upgrade, while Dell fell 3.8% on lower than expected revenue guidance. The broader market also rose on the day, an impressive performance given that Dell, one of technology’s most dependable performers, had issued a revenue warning. Chips were boosted by a CS First Boston upgrade of Novellus […]

An impressive turnaround today, especially so given Dell’s revenue warning. The Nasdaq (first chart below) regained broken support and then some, and could be poised for another run at 2100-2106 resistance if it can take out its downtrend line at 2080. Support is 2060-2065, and 2040 is now critical support. The S&P (second chart) had […]

A divided market here. The Dow (first chart below) made a new rally high today, while the Nasdaq (second chart) remains broken. The Dow faces resistance at 10,775 and 10,868, and support is 10,690-10,700 and 10,632-10,664. The Nasdaq has support at 2030-2040, and 2065 and 2080-2085 are resistance. The S&P (third chart) struggled at 1200 […]

Dell topped earnings estimates after the close on Thursday, but the stock slipped in after-hours trading after the company lowered revenue guidance. Dell’s pro forma earnings of 37 cents a share beat analyst estimates by a penny, and revenues of $13.5 billion matched forecasts. But Dell’s forward guidance was mixed. The company predicted first-quarter earnings […]

The indexes all broke short-term uptrends today, a near-term negative for stocks. The Nasdaq (first chart below) looks like the weakest of the major indexes, having twice overlapped the first wave up off the January low. 2030-2040 is the next support zone, and resistance is 2060 and 2080-2085. The S&P (second chart) took out 1196-1200 […]

Tech stocks tumbled Wednesday after Cisco missed revenue estimates and lowered guidance. Cisco fell 3.3% on its disappointing sales, dragging the Nasdaq to a 1.6% loss on the day. HP , meanwhile, soared 7% on hopes that the ouster of CEO Carly Fiorina will reverse the IT giant’s sagging fortunes. Tech investors are now pinning […]

High-tech law firm Fenwick & West LLP went shopping for a disaster recovery solution after geologists told them that their San Francisco and Silicon Valley offices could get hit hard by a 6.0 or higher earthquake in the region. They started with “the big boys,” as Fenwick CTO Matt Kesner puts it — SunGard, IBM […]

Cisco Systems missed Wall Street revenue estimates for the second consecutive quarter after the close on Tuesday. Cisco’s pro forma earnings of 22 cents a share met estimates, but sales of $6.06 billion came in under $6.13 billion expectations. Gross margins of 66.8% were also a little under expectations, and rising accounts receivable and inventories […]