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With key sectors like semiconductors and financials in bear markets, strength in big-cap technology stocks like Cisco, Microsoft, Apple and Google has kept the Nasdaq near multi-year highs even as the rest of the stock market has crumbled around them. Fed lifts Wall Street, Europe | Herald Sun::
US stocks rose overnight after the Federal Reserve said it still saw moderate economic growth ahead even though credit conditions had tightened for some consumers
http://www.news.com.au/heraldsun/story/0,21985,22208851-664,00.htmlHOME |
So investors will look to Cisco's quarterly results after the market close Wednesday for evidence that technology spending can stay strong in the face of a credit market meltdown that threatens to derail the broader economy.
Analysts are looking for another strong quarter from Cisco, with 16.5% sales growth to $9.54 billion and earnings of 36 cents a share, up from 31 cents in the year-ago quarter. What's more, they're looking for Cisco to continue growing at a 15-16% clip into next year and 2009. Thomson Market Commentaries - U.S.::
Stocks Climb Ahead of FOMC. 09:34 ET. Stocks Poised for Gains Amid Easing Oil, Upbeat Data Stocks Retreat Despite Cisco Results, Smaller Trade Gap. 10:42 ET
http://www.prnewswire.com/gh/cnoc/comp/683148.htmlHOME |
And if recent history is any indication, investors will expect Cisco to beat those numbers handily.
Cisco rose 3% Tuesday ahead of its earnings report, and the rest of the market gained as investors finally started buying beaten-down financial stocks, while $97 a barrel crude sent energy stocks higher. Technology News: Wall Street: Cisco Profits, Sales Climb, but Outlook ::
Still, the results seem to suggest that some of Ciscos recent moves have paid a role in the convergence of Internet and television. Convergence Ahead
http://www.technewsworld.com/story/wallst/50441.htmlHOME |
after-hours | Pre Market & After Hours Trading Blog::
stocks rose 3.8% in after-hours trading after its second-quarter results to report its second-quarter results ahead of Thursdays opening bell, and
http://blog.midnighttrader.com/Blog/?Tag=after-hoursHOME |
Yahoo lost 5% after getting grilled on Capitol Hill for turning over data that resulted in the jailing of a journalist in China. The controversy overshadowed a 200% gain for Alibaba.com in its Hong Kong debut, the biggest Internet IPO since Google's 2004 debut. Yahoo owns a 40% stake in the company.
Nortel shares soared 18% as investors looked past weaker than expected results to focus on the company's bullish outlook.
Sun Microsystems fell 10% after missing sales estimates.
DivX soared 32% after beating estimates, but Cognizant and Novatel plunged 20% on their results.
The Nasdaq rose 30 to 2825, the S&P gained 18 to 1520, and the Dow rose 117 to 13,660. Volume declined to 3.83 billion shares on the NYSE, and rose to 2.53 billion on the Nasdaq. Advancers led by a 21-11 margin on the NYSE, and 17-12 on the Nasdaq. Upside volume was 70% on the NYSE, and 57% on the Nasdaq. New highs-new lows were 151-236 on the NYSE, and 125-300 on the Nasdaq.
 Microsoft Fires Its CIO
 Dell Fills Out Precision Notebook Line |
Stocks Climb Ahead of Cisco's Results 
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