Paul Shread

IBM met earnings estimates and beat revenue estimates after the close on Wednesday, but Big Blue’s stock declined after hours because much of the gains came from favorable currency translations. IBM’s earnings of 98 cents a share matched analysts’ estimates, and revenues of $21.63 billion, up 10% year-over-year, came in ahead of $21.43 billion estimates. […]

Another gap up failed to hold today. The market is likely headed for another gap up tomorrow; will it hold this time? We suspect it will, since good news from perennial underperformer Intel is about as good as it gets. The Nasdaq (first chart below) faces resistance at 1772-1776 and 1800, and 1734-1742 is support. […]

Intel topped earnings and revenue estimates after the close on Tuesday. Intel’s earnings of 14 cents a share beat estimates by a penny, and revenues of $6.82 billion topped estimates of $6.72 billion. The company’s third quarter revenue guidance of $6.9-$7.5 billion was in line with $7.17 billion estimates, and margin guidance of 54% was […]

The Nasdaq (first chart below) sure was an odd chart today: the gap up created a bullish island reversal, but the lack of change from the open created a potential evening star, which could mark a top if tomorrow is a down day. This is a big week for tech earnings, with Intel reporting tomorrow […]

Yahoo’s acquisition of Overture and a Merrill Lynch upgrade of Intel sent stocks higher on Monday. The Overture buyout is the latest in a string of takeovers that have investors thinking that some stocks remain undervalued and that business confidence may be returning. And at a price-to-earnings ratio of 23, Yahoo isn’t getting a bad […]

Candera has unveiled a new technology that the start-up claims is the first enterprise-grade network storage controller. Candera’s U*Star architecture “provides authentic interoperability with any storage, any switch, any server,” the company claims, “injecting higher intelligence into existing ‘dumb’ SANs.” “Candera is on to something important,” says Steve Duplessie, founder and senior analyst at Enterprise […]

The most notable aspect of today’s trading was the very poor upside volume on the NYSE and the Nasdaq: neither exchange could register even 70% upside volume. That suggests the possibility of more downside next week. The Dow (first chart below) stalled at 9135-9162 (9150) resistance. Next resistance is 9261 and 9352, and 9000-9036 and […]

Sonus and Juniper reported tentative signs of a recovery in telecom spending, raising hopes that the sector’s three-year slump is coming to an end. Sonus rocketed 24% after cutting its loss to a penny a share, beating revenue estimates, and announcing a contract from Verizon . Juniper gained 2.6% on its cautious outlook. Juniper reported […]

The Dow (first chart below) is approaching important support at 8925. Note also that RSI is at 50 on the Dow; that level has been good for a bounce since the March low, so it’s a doubly important test for the Dow here. GE’s earnings and producer prices tomorrow morning could turn out to be […]

Yahoo got earnings season off to an uninspiring start Thursday, falling 8% and dragging the market lower after merely meeting estimates. With a triple-digit year-to-date percentage gain and a triple-digit price-to-earnings ratio, investors were hoping for signs of a stronger recovery from Yahoo. Yahoo did beat revenue estimates, but earnings and guidance only matched estimates. […]

Yahoo’s earnings didn’t provide the evidence of a strong recovery that investors were hoping for, setting up a good test for the market here. Every other bit of mixed news has been bought in this rally, so it will be interesting to see if the Yahoo news gets bought too. The Nasdaq (first two charts […]

Yahoo posted strong results after the bell on Wednesday, but investors apparently were looking for more. Earnings of 8 cents a share matched analysts’ estimates, and revenues of $321.4 million beat estimates of $313-320 million. But Yahoo merely reaffirmed guidance instead of raising it as investors had hoped. The company said it sees third-quarter revenues […]