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IBM reported better-than-expected preliminary quarterly results Monday on strong performances in Asia, Europe and emerging markets, driving its shares up 10 percent and spurring a broader tech rally.
You knew it was coming simply because we all know that stocks, particularly tech stocks, don't move in only one direction despite what we've seen since Jan. 1. It took a stunning IBM pre-announcement to get the ball rolling, and that ball is rolling, fast.
The haves and have nots this earnings period could come down to who has the biggest foreign exposure. Look what happened with IBM today. The weak dollar is its friend.
Is the U.S. market getting beaten-up enough to get interesting? Strategists at Credit Suisse seems to think so. They are recommending a 5 percent overweight in U.S. stocks because the Fed is likely to cut rates to respond to the slowing economy quicker than their European counterparts.
A change in sentiment? This week saw interesting rotation in the markets. Beaten up financials were looking for a bottom, with the largest ones up for the week. Retailers showed no signs of bottoming, most of the large ones at 52-week lows. Ditto for restaurants.
Quarterly reports next week from Citi, JP Morgan, Washington Mutual, Wells Fargo, Comerica, Merrill Lynch, PNC. There are plenty looking to go long after the reports are out, based on valuation. For example, Citi and Wells Fargo are trading in the bottom 10 percent of their historical valuation.
Kevin O'Marah, chief strategist at AMR Research, has developed a unique "supply-chain strategy" -- and uses it to compile a Top 25 stocks list that beat the 2007 market hands-down.
Slowdown talk hurts tech, commodities, defense stocks today. UBS downgrades IBM on concerns about a slowing in tech orders; Deutsche Bank downgrades Boeing and Goodrich. Commodities weak across the board—metals, steel, iron ore (2nd day in a row.) Defensive stocks—consumer, drugs all strong. Lilly upgraded at Morgan Stanley.
Fourth quarter earnings season begins in earnest this week. On Friday, the weak jobs report forced traders to question the recent overweight in tech, industrials and materials. This overweight was based on the assumption that: 1) the U.S. was unlikely to be entering a serious slowdown.
George Lucas' video game company is set to unveil two of the most anticipated titles the industry as seen since "Halo 3." And these games may herald the next generation of films from the legendary producer.
China's Lenovo Group introduced its first consumer computers in the United States on Wednesday, expanding in a region it entered in 2005 with the purchase of IBM's PC business.
International Business Machines said on Wednesday it had acquired XIV, a privately held storage technology company based in Tel Aviv.
Wall Street ended the year on a negative note Monday, with technology shares hit by profit-takers and falling oil prices sending energy stocks lower.
Apple's stock crossed $200 per share Wednesday, but settled back. Today, a kind of two-steps-forward-one-step-back approach, as Apple blows through $200 with a lot more conviction. Will it finally close above the psychologically, financially important plateau?
Black Friday has come and gone, but you might want to call today Black Friday: Part II as we usher in the last weekend before Christmas. I'm inside a Best Buy in the heart of Silicon Valley, where business has been more than brisk these last few weeks...
Stocks closed higher as a rally in technology shares helped offset more uncertainty in the credit markets and troubling economic signs.
Oracle's second quarter financials are stunning by just about every measure. Everyone I had spoken to leading up to these numbers knew the news was going to be good, but no one expected the news to be this good.
Stocks closed mixed after another volatile day that featured lowered outlook for two key insurers, more jitters over credit and mixed results from an effort to shore up financials.
Wanna have some fun? Take ten minutes out of your day and read IBM's Next Five Years Report--they very succinctly highlight five trends that will change your life in the next five years. Here's a summary:
Stocks closed lower as fears that inflation was hampering holiday gift-buying combined with wider concerns about the state of the economy.