Paul Shread

Nokia upended tech stocks Tuesday with an unexpected revenue warning. Shares of Nokia plunged 19% after the company said first-quarter sales will decline 2%, well under estimates for a 3-7% rise. The miss apparently was due to a market miscalculation by Nokia, which overemphasized low-end models at the expense of more popular midrange models. Partners […]

A strange day today. Despite the straight-line gains in the indexes off last month’s lows, there’s a lot of upheaval beneath the surface, particularly in the two days since the unemployment report. Decliners led advancers by an 18-15 margin on the NYSE today, and new lows climbed on both exchanges, unusual for a strong up […]

EMC’s LEGATO Software division has unveiled a number of product upgrades focusing on backup and recovery, long-distance replication, and data management. The products also tighten LEGATO’s product integration with EMC . Topping the list, says Legato CTO George Symons, are new integrated protection and recovery solutions for information lifecycle management (ILM). LEGATOInformation Management LEGATO’s new […]

Earnings season officially begins this week, with Dow component Alcoa up first on Tuesday. For tech investors, the big news will come Wednesday after the close, when Yahoo and Research in Motion report. Yahoo is expected to earn 11 cents a share, up 3 cents from a year ago, and revenues are expected to come […]

Finally, some real jobs growth. Now it needs to be sustained, and wage growth – a paltry 0.1% last month – needs to pick up too. The Nasdaq (first chart below) gapped above its 50-day moving average today and kept going. Resistance levels are 2069 and 2088-2095, and support is 2050, 2046 and 2034-2037. The […]

Sun Microsystems and Gateway announced dramatic shifts in their businesses on Friday. Shares of Sun soared 20% on news of a broad settlement and cooperative agreement with former arch enemy Microsoft . The company also issued an earnings warning and announced job cuts. And Gateway gained 12% on plans to shutter its retail stores. For […]

The consensus is unusually bullish heading into tomorrow morning’s jobs report, which leaves room for disappointment – or to sell on the news. Expectations are for jobs growth of 120,000 and wage growth of 0.2%, and given how little job growth there has been, an in-line report could be enough. The bigger problem remains that […]

Nothing changes faster than technology, and nothing drives that point home more than Thursday’s news that AT&T and Eastman Kodak , components of the Dow Jones Industrial Average since the 1930s, are being dropped from the index. Along with International Paper – apparently no one uses paper any more – Thursday’s announcements were about the […]

Nice recovery on today’s sell-off, much of which could probably be attributed to unfounded rumors about the health of Fed chairman Alan Greenspan. There was a nice spike in the equity put-call ratio today, but 194,000 of those puts were June 34 QQQs, so today’s high reading may not mean much. The market is likely […]

Shares of QLogic tumbled 23% Wednesday on an earnings warning. The company said it expects March quarter earnings of 36 cents a share on revenues of $128 million, below analysts’ estimates of 38 cents and $140 million. The company blamed the shortfall on weak demand from two OEMs for its host bus adapters. Analysts said […]

The S&P (first chart below) joined the Nasdaq and Dow in a higher high today, by all of a point, but volume declined on the breakout, and the equity put-call ratio is getting a little frothy at .46. A pause that refreshes would help the bull cause here. Resistance on the S&P is 1134, 1140 […]

Steve Case may be trying to buy back AOL from Time Warner , according to a news report. The New York Daily News reported Tuesday that Case, the former AOL chairman, may be trying to raise $10 billion to buy AOL from Time Warner. But a “source close to the media empire” says Time Warner […]