Paul Shread

The market continues to be weighed down by poor internals, with new lows climbing sharply on the NYSE today and a lopsided 29-4 advance-decline ratio. If the market is to advance, the soldiers will have to get behind the generals. The market is undergoing a great deal of rotation and tumult here; how it resolves, […]

Investors weren’t expecting much from Intel’s first-quarter earnings report after the close on Tuesday, and that’s what they got. Intel beat earnings estimates by a penny with 28-cent earnings, and gross margins came in better than expected, but revenues of $8.09 billion missed $8.17 billion estimates, and the company’s second-quarter revenue guidance of $7.6-8.2 billion […]

Another day with odd internals – breadth was even on the NYSE, new lows rose substantially, and the Russell 2000 lagged. We noted the same a week ago – right before the market dropped for 2-3 days. Will the market repeat the feat? If nothing else, the underpinnings for a broad-based advance are so far […]

Intel reports first-quarter earnings Tuesday night, and analysts aren’t expecting much this time around. Intel made headlines last year with once of its strongest second halves ever, but the stock – and expectations – have slumped since the start of the year, culminating in a revenue warning last month. One firm – ThinkEquity – thinks […]

PMC-Sierra has introduced Fibre Channel cut-through switches for the emerging 4 Gigabit per second (aka 4Gbps, 4-Gig, or 4G) standard, and Agilent has announced a number of its own 4-Gig offerings. Travis Karr, PMC-Sierra’s director of marketing and applications, says the company’s new switches employ a “clever switching mechanism that changes the cost points in […]

There was so much good news on Thursday that investors could be forgiven for thinking it can’t get any better. At least that’s how they acted, as the stock market opened at the highs of the day and spent the rest of the day on the defensive. Yahoo was the day’s standout, soaring 16% on […]

Snap Appliance has unveiled a unified software platform that supports both block and file architectures, moving into territory pioneered by Network Appliance . The Quantum spinoff debuted its GuardianOS version 3 at this week’s Storage Networking World conference in Phoenix, Ariz., adding iSCSI support for “a balanced approach to data management that ensures the right […]

Support buyers won the day yesterday, and those who sold at resistance carried the day today. The Nasdaq (first chart below) is range-bound by 2037 to the downside and 2079 to the upside. If 2037 goes, 2015-2020 is the next strong support, and 2088-2095 looks like tough resistance above 2079. 2057-2064 and 2069 are first […]

Shares of Yahoo surged 10% after the close Wednesday after the company’s results blew past estimates. Yahoo’s earnings of 13 cents a share topped 11-cent forecasts, and revenues of $550 million came in well ahead of $501 million estimates. Yahoo also raised full-year revenue guidance to $2.41-2.52 billion, topping $2.23 billion forecasts, and announced a […]

The Nasdaq (first chart below) held last Friday’s gap at 2037 nicely today, which reinforces the importance of that support level. Resistance levels are 2069, 2079 and 2088-2095. The S&P (second chart) faces resistance at 1150, 1155-1157, 1160-1163 and 1173-1177, and support is 1134-1138. The Dow (third chart) has resistance at 10,520, 10,570, 10,600, 10,650, […]

Responding to recent low-cost offerings from rival Brocade , McDATA has unveiled its next generation switch-on-a-chip (SOC). The Broomfield, Colo.-based firm says the SOC, a result of the company’s partnership with IBM, “will significantly lower the total cost of ownership for both first-time and enterprise-class storage networking customers.” The advanced switch-on-a-chip technology will be integrated […]

Looks like the negative internals the last two days caught up with the market today. The Nasdaq (first chart below) didn’t quite make it to the 2088-2095 resistance zone before turning back. 2050-2053, 2046 and 2037 are support, and below that is Friday’s big gap down at 2015-2020. First resistance levels are 2069 and 2079. […]