Paul Shread

Micron Technology beat estimates after the close on Wednesday and announced a $450 million investment from Intel . The company’s loss of 20 cents a share beat estimates by 5 cents, and revenues also topped forecasts. Perhaps more importantly, Micron is finally starting to show some growth and pricing power, with a 15% increase in […]

IBM Wednesday announced several Grid customers and projects, along with two new offerings for the financial services industry. To date, IBM boasts more than 100 Grid customers and 19 industry-specific Grid solutions, said Dan Powers, IBM’s vice president of Grid computing strategy. “This continues a trend over the last year of rapid acceptance of Grid […]

The S&P 500 (first chart below) could potentially be forming an ending diagonal or rising wedge since the start of September, which is evidence for the Elliott wave theory that the rally could be in its final stages before a significant correction. Support is 1024, and resistance is 1032-1034 and 1045. A move that fails […]

4 Gigabit per second Fibre Channel started out as a solitary effort by QLogic to bridge the gap between the 1G and 2G systems of today and the 10G systems of the future, but it has quickly gained a following. Support this past June from the Fibre Channel Industry Association was a big boost, and […]

Brace yourself for the return of the dot-com IPO. Provide Commerce, which operates on e-commerce marketplace for perishable goods, filed for an IPO yesterday. But unlike the dot-com IPOs of the late 1990s, Provide Commerce is profitable, with net income of $4.3 million last year. Upscale retailer Red Envelope is slated to make its debut […]

The market sliced right through the first support levels this morning and kept on going, all the way to major support on the S&P (see first chart below). If 1015 goes, the S&P could be in trouble. On the plus side, volume was lower today, and new lows have yet to expand at all, so […]

For the first time in its 75-year history, a Galvin won’t be at the helm of Motorola . CEO Christopher Galvin, grandson of company founder Paul Galvin, announced his resignation late Friday after a dispute with the company’s board of directors. “While I have achieved substantial results, the board and I do not share the […]

Internals held up again on today’s pullback, with new highs and lows actually improving on the day. It’s going to be hard to get a strong pullback as long as the indexes are holding up internally. The indexes (first three charts below) are coming up on a whole lot of resistance: 1940-2000 on the Nasdaq, […]

Accounting issues aren’t just a U.S. problem, FindWhat.com investors found out on Friday. FindWhat plunged 25% on news that a European company it plans on acquiring wasn’t everything it had hoped. FindWhat announced that it had found problems with paid search firm Espotting’s profitability and projections, and said it may walk away from the deal […]

The Serial ATA II Working Group released three more specifications for SATA II at the Intel Developer Forum this week, leaving only two to go until the standard is complete. The completed specs – Digital, Port Multiplier, and Port Selector – address reliability and connectivity issues for the next-generation serial storage interface. Knut Grimsrud, Serial […]

It’s been one heck of an expiry week, that’s for sure. The first sign that today was going to be a good day was the banks (first chart below), which gapped above resistance while the rest of the market was still red. That negates any bearish pattern that was forming on that index. So how […]

Someone forgot to tell the chip equipment sector that there’s an economic recovery going on. Applied Materials and KLA-Tencor slumped more than 1% each Thursday on a weaker than expected chip equipment book-to-bill ratio. SEMI’s August book-to-bill ratio came in at 0.91, 8 points below analyst estimates, and the previous base was also revised lower. […]