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Small Business Waiting For Cisco
Waiting For Cisco
Stocks treaded water on Monday, as traders awaited earnings from technology and Internet bellwether Cisco Systems due out after the close on Tuesday.
The ISDEX http://www.wsrn.com/apps/ISDEX/ lost 10 to 273, and the Nasdaq slipped 17 to 2173. The S&P 500 declined 3 to 1263, and the Dow lost 16 to 10,935. Volume rose slightly to 1.09 billion shares on the NYSE, but declined to 1.74 billion on the Nasdaq. Decliners led 15 to 14 on the NYSE, and 20 to 18 on the Nasdaq. For earnings reports, visit our earnings calendar at http://www.wsrn.com/apps/earnings/internet.xpl and reported earnings at http://www.wsrn.com/apps/earnings/ireported.xpl. For after hours quotes and news, visit our after hours trading site at http://www.afterhourstrading.com.
After the close, Dell
During the day, Portal Software
Proxicom
Ciena
Traders continued to pile into NVIDIA
Emulex
Microsoft
Some technical comments on the market: Note: We include charts in the technical market commentary. If you can't get the charts via the e-mail newsletter version, try this link: http://www.afterhourstrading.com/column.html
A potential double top on the S&P 500 and the Nasdaq, and both occurring on cycle turn dates (May 2 and May 7)? We'll see if sellers show up this time. The indexes have broken their uptrends two or three times on this rally, only to head higher (see first three charts below). First support is now 2150 on the Nasdaq, 1250 on the S&P 500, and 10,900 on the Dow. The S&P and the Nasdaq have been stuck in a range for some time now; a break of either boundary of the range should dictate near-term direction. Those levels are 2000 and 2252 on the Nasdaq, and 1200 and 1300 on the S&P. The Dow is holding above its main downtrend line (fourth chart), but is in an area of powerful resistance. A close above 11,035 would be bullish.
rose after saying it expects to meet estimates, but will eliminate 3,000-4,000 positions over the next two quarters. Priceline
announced that Chairman Richard Braddock has been reappointed as CEO.
plummeted 3.25 to 6.03 after announcing that it will lose 19-21 cents a share, instead of the 1 cent earnings expected by analysts.
surged 1.70 to 7.36 after receiving a $7.50 cash buyout offer from Dimension Data Holdings, topping an offer of $5.75 from Compaq
.
rose 1.17 to 55.41 on news that tests of its new Core Director product are going well.
, sending the stock 4.41 higher to a new high of 93.93.
, up .69 to 43.99, announced a partnership with Cisco
.
gained 1 to 71.75 on new that its Windows XP product could hit store shelves as soon as Oct. 29.
