Contest Transactions: Tech And Retail Ruling Trades
Senior Editor, CNBC
Folks, here are some great stats from out contest trackers that I know you will want to have: analysis of the 313 Transactions within the top 20 leading portfolios by dollar value from the close of Thursday, 3/15 through the close of Thursday, 3/28 shows some sector rotation. Whereas in the first run from 3/2 - 3/14, retail stocks were by far the most actively traded at 27.65% of the transactions for the leaders as of 3/14, retail has now slipped into the 2nd slot at 22.04%, and technology takes the lead at 22.36% of the leaders' transactions from 3rd place.
We note that 22.04% of the 313 transactions for retail is slightly off from the 27.65% in the first run, but the concentration of groups has narrowed greatly with only 23 industry groups represented vs the 33 in the first run. Technology has gained the most transactions from this concentration at 22.04% or 70 of the 313 transactions.
So--the most volatility and trending have been found within technology and retail with technology quickly taking the lead. Technology and retail stocks account for almost half the leaders' transactions. Transactions within financial services have fallen off from the 2nd spot in the first run at 10.92% to 5th place currently with only 6.71% of transactions.
Technology and consumer staples are expected to show the highest growth of any sector for Q1 2007 currently estimated at 11%. Within technology, systems software and the computer hardware subgroups are expected to contribute most to earnings growth.
Here are some standouts in technology:
Progress Software who reported a 48% increase in quarterly earnings.
Synnex on strong earnings.
Oracle news on lawsuit against SAP for allegedly stealing confidential information.
Vonage has been downgraded, and contestants trying to catch a bottom on the news of the patent litigation with Verizon.
In retail, the most traded stock was Gamestop which produced a lot of nice gains for its holders on positive earnings news.
We will continue to monitor transactions by sector to see if technology continues to be dominant especially as we move into high Earnings Season 4/10.
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