Barclays Takes Notice of Google’s Undeserved Valuation
Google Inc.’s (GOOG) recent underperformance has been particularly uncanny and frustrating. The major U.S. stock indices posted their largest two-day gain since 1987 with the tech-heavy NASDAQ rising 12.7% over that short time period whereas Google actually continued to lose value – down to a multi-year low of $257.44 at yesterday’s close from Thursday’s close of $259.56, acting as a rare counterweight to the Powershares QQQ exchange traded fund of NASDAQ 100 stocks. But finally someone in the analyst community has taken notice of the discounted, beleaguered nature of the search behemoth’s share price. Barclays Capital Internet analyst Doug Anmuth defended...
Read in fullCyberSource’s Buyback a Bullish Signal to the Market
Late Friday evening news releases are often good times to bury horrible, no good, very bad news. But for CyberSource Corp. (CYBS) that just isn’t the case. The board of directors recently approved a new stock repurchase program Nov. 21 which authorizes the payment solutions company to buy an additional $15 million in common stock through March 2009. The news comes on the heels of a precipitous share drop of 42.9% from a Nov. 4 intra-day trading high of $12.74 and is on top of $9.97 million used to buyback 704,925 shares year to date. It may not seem like a whole lot given that there are 69.53 million shares outstanding and the stock trades 982,166 shares a day, but it does represent...
Read in fullFinancials Need to Show Relative Strength for Sustainable Market Rally
Any market rally will be unsustainable and short-lived unless there is some participation from financial stocks which have been given a vote of no confidence judging by their continued dreadful performance. Watch the Financial Select Sector SPDR (XLF) for any sign of momentum along with some of the big name, higher weighted stocks such as JP Morgan, Wells Fargo, Banc of America, USB, Citigroup, Goldman Sachs and American Express which make up 48.1% of the exchange traded fund according to Nov. 19 data from State Street.
Read in fullDJIA Technical Analysis: Three Lines in the Sand
The market is at a critical juncture. Since attempts at a follow-through rally failed to gain any traction after Thursday’s bullish reversal, we find ourselves again dangerously near multi-year lows. We’ve identified three price levels associated with those recent lows on the Dow Jones Industrial Average for the index not to close or cross below that are imperative to avoid further market collapse and perhaps a selloff of epic proportions; the Oct. 27 closing low of 8175.77, the intra-day low of the Nov. 13 reversal at 7,965.42 and the all important Oct. 10 intra-day washout and capitulatory low of 7,773.71.
Read in fullThe Technical Trade: Is Emergent BioSolutions Forming a Double Top?
It would be real tempting to look at the Emergent BioSolutions Inc. (EBS) chart and see a double top forming with the potential for a significant retrace. Technically, it would make some sense. After closing at a 52-week high of $18.30 on Oct. 20, the stock fell to re-test support at the $14 level and its 50-day ma at $13.84 before bouncing back over the past week on modest volume to close yesterday at $18.01. But taking a closer look at the small cap biotech business would convince you otherwise.
Read in fullClorox Earnings Beat, Stock Up, But It’s Priced In
Clorox Co. (CLX) first quarter earnings were good – profit of $.91 a share on $1.38 billion in sales, beating Street expectations of $.84 on $1.24 billion. And the consumer products company reiterated fiscal 2009 guidance of $3.60 to $3.75. That was despite projecting growth of only 4-6% vs. the previously issued range of 6-8% because of foreign currency devaluation versus the U.S. dollar (20% of sales are outside the United States). Management believes it could get there as it forecasted a better second half with gross margin improvement, though a lot would have to play in its favor - continued lower commodity costs, higher cost savings and consumers absorbing higher prices to offset foreign currency declines and higher interest costs.
Read in full
Squawk on the Street: According to Jim Goldman, what is HP blaming for its Q1 revenue shortfall prediction?
December 1, 2008 at
Posted by Thomas Catino
Question: According to Jim Goldman, what is HP blaming for its Q1 revenue shortfall prediction?
Answer: currency conditions
Subscribe to RSS newsfeed |
Email this post
