Market Moves Into New Range
With the breakdown below 1230, markets dove close to support at 1150 as we suggested a few weeks ago. Markets reacted swiftly to the acutely oversold condition yesterday and are now going to move between 1190 and 1205 searching for direction or waiting for the next Euro show to drop. Employment report on Friday is moderately aggressive which might give traders pause to add to positions so we … Read More
Barclays Retains $555 Price Target on Apple (AAPL)
Apple's miss surprised many including us as we underestimated the level of iPhone push into the fiscal first quarter. This was not close to what we saw when the iPhone 4 was anticipated and now the incredible amount of 4S sales makes sense when put into this context. Despite the negative headlines, Apple shares are trading where they were last week. We think Apple will get a mulligan on this … Read More
Perry Gaffe Likely Costs His Nomination
For someone who is trying to convince people he is not dumb and can hold his own against Obama, this surely wont help. Although some hard core supporters may try to defend him this is likely the final nail in the coffin as we see Newt Gingrich shine and Cain rebound after various allegations. … Read More
RESEARCH
Cisco Gets Double Upgrade After Strong Earnings (CSCO)
Previously hated Cisco (CSCO) topped analyst estimates after the close yesterday and this morning two firms upgrade the shares to a Buy. The stock has come all the way back from below $14 as it has begun to show signs of progress in its restructuring efforts. Both enterprise and service provider … [Read More...]
Rovi Gets Double Downgrade; Abercrombie Also Cut
There was a time a few years ago where I really like Rovi but this past quarter was not good at all. Both Brean Murray and Collins Stewart take the axe to it. At $35 it may get a little more interesting but broken stocks are a tough bet in this market. Also, after bouncing off of a retest of the … [Read More...]
TECHNOLOGY
Barclays Retains $555 Price Target on Apple (AAPL)
Apple's miss surprised many including us as we underestimated the level of iPhone push into the fiscal first quarter. This was not close to what we saw when the iPhone 4 was anticipated and now the incredible amount of 4S sales makes sense when put into this context. Despite the negative … [Read More...]
How Will Apple React After Its Earnings Report?
Birinyi with some interesting analysis on Apple's post earnings report activity. For those looking to trade around a core position, this might be helpful. It seems like the Street is still conservative with an average EPS in the low $7 range with Citi the highest at $8.50ish. Personally, I am … [Read More...]
