| Search by tag or site | Login to my blog ? Start my own blog |
 |
In The MoneyThe purpose of this site is to help you make money, accumulate wealth, manage your finances, and enrich your life. |
Tech Companies Surprise With Strong Earnings
Posted on 07/25/2008 15:47:14 | Link | Post Comment
The market is pulling back this morning, after a nice 2-day bounce. Existing home sales came in below consensus estimates, which isn't helping things. June home sales slipped -2.6%.
There were more good earnings reports last night and this morning. MMM topped analyst expectations, and in the tech space Qualcomm (QCOM), Amazon (AMZN), and Baidu (BIDU) all reported strong results and their stocks are all up in excess of +15% this morning.
Asian markets were higher overnight, following the drop in oil prices yesterday. Today, oil is up slightly, but the huge plunge in natural gas is weighing on oil and the energy complex as a whole. The drop in natural gas over the last two weeks has been extreme, to say the least. I am adding to my long exposure to some of these stocks as they are very oversold.
The dollar is mixed, after a strong 2-day bounce. The 10-year yield is lower at 4.06%. The ARMS Index is high at 1.83, signifying heavy selling pressure. And the put/call ratio is at 0.95.
There were more good earnings reports last night and this morning. MMM topped analyst expectations, and in the tech space Qualcomm (QCOM), Amazon (AMZN), and Baidu (BIDU) all reported strong results and their stocks are all up in excess of +15% this morning.
Asian markets were higher overnight, following the drop in oil prices yesterday. Today, oil is up slightly, but the huge plunge in natural gas is weighing on oil and the energy complex as a whole. The drop in natural gas over the last two weeks has been extreme, to say the least. I am adding to my long exposure to some of these stocks as they are very oversold.
The dollar is mixed, after a strong 2-day bounce. The 10-year yield is lower at 4.06%. The ARMS Index is high at 1.83, signifying heavy selling pressure. And the put/call ratio is at 0.95.
- Will The Streak End At 8?
- Sneak Peak Ahead Of The Open
- The Week Ahead
- A Mostly Flat Open
- Midday Check
- The Boston Real Estate Blog
- The Technical Trader
- Biiwii.com Notes
- UrbanDigs
- In The Money
- Rag's Soapbox
Examples
Editorial Spotlight - Fri Aug 15, 2008 10:33AM
They say the most dangerous enemy is the one you don’ [read more]
They say the most dangerous enemy is the one you don’ [read more]
Editorial Spotlight - Tue Aug 19, 2008 05:27PM
College, they say, provides the best return of any inves [read more]
College, they say, provides the best return of any inves [read more]
Morpheus Trading - Tue Aug 19, 2008 02:19AM
NOTE: Please click on the charts below to enlarge them if [read more]
NOTE: Please click on the charts below to enlarge them if [read more]
<< My Home | TheMoneyBlogs Home