Paul Shread

HP retained the top storage spot in the first quarter, according to IDC’s Worldwide Disk Storage Systems Quarterly Tracker, but IBM and Dell are growing fast. HP boasted 26.3% market share and $1.26 billion in revenues in the first quarter, IDC said (see table at bottom). IBM was second at 19.1% and $917 million — […]

Only 12 more points on a closing basis (9053.64) and there will be no doubts about a Dow Theory buy signal according to the leading Dow Theorists. Richard Moroney, editor of Dow Theory Forecasts, had the Dow confirmation level at 8931.68, the November high, so that level was surpassed yesterday. Moroney told us in an […]

Intel steered guidance toward the middle of the range after the bell on Thursday. Intel said revenues will come in at $6.6-$6.8 billion when it reports earnings next month, narrowing the company’s previous guidance of $6.4-$7.0 billion. Analyst estimates are for $6.65 billion. The company said its Intel Architecture business is trending toward the high […]

HP and Mirapoint are claiming record performance results for a messaging system combined with network storage. The companies say the record-breaking architecture, which consists of an HP StorageWorks Disk Array xp128 and Mirapoint Message Server M4000, delivers SPECmail message capacity and performance of 1.25 million SPECmail users — nearly 25% higher than the previous record […]

The Dow (first chart below) just missed taking out its August closing high of 9053.64, the level at which Dow Theory Letters editor Richard Russell says the Dow would confirm the Transports’ breakout to new highs. Richard Moroney, editor of Dow Theory Forecasts, had the Dow confirmation level at 8931.68, the November high, so that […]

All eyes will be on Intel tomorrow night, as investors and analysts scour the company’s mid-quarter update for signs of a recovery in the chip sector. Analysts say they expect no surprises from Intel tomorrow night. However, JP Morgan reiterated its Underweight rating on the stock today based on declining motherboard sales, valuation, and a […]

A low-volume bounce with deteriorating internals (a steep drop in NYSE and Nasdaq new highs) following yesterday’s high-volume decline suggests more downside for this correction. However, excessive put buying once again suggests that the downside may be limited and new highs still possible. The Dow (first two charts below) remains the one big holdout, a […]

IBM stock took a 4% hit Tuesday on news of an SEC accounting investigation, but the rest of the market responded with a collective yawn. The SEC investigation into IBM’s revenue recognition practices in 2000 and 2001 is targeted at only about 1% of the company’s revenues, Goldman Sachs estimated. But IBM could face risk […]

A powerful rally indeed, and if the Dow (first two charts below) can take out resistance in the 9003-9077 range, it could go a lot higher. The S&P and Nasdaq (charts three through six) have already broken through major resistance and now must hold. For the S&P, 965 and 950-960 are important supports, and for […]

Chip stocks led a late stock market decline Monday on concerns about overproduction and weak demand. Intel led the way with a 2% loss on a Barron’s article that questioned the company’s valuation ahead of its mid-quarter update this week. The article cited slowing motherboard sales and an unsustainable pace in wafer starts that suggests […]

Spinnaker Networks claims chart-topping performance and scalability for its new NAS server — and at least one analyst agrees that the company may have come up with the complete package. Spinnaker says the new SpinServer 4100 delivers a 50% performance increase over the SpinServer 3300 — and a 40% performance advantage over Network Appliance’s FAS960 […]

The S&P (first two charts below) closed above some major resistance on a monthly basis; now it has to hold 940 or so on any pullback. Resistance is 965, 969 and 974.60. The Nasdaq (charts three and four) will open right at its main downtrend line on Monday. If it can clear 1600, it could […]