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Six Stocks Sitting Pretty

Sean Udall Jun 04, 2008 2:50 pm


		A half-dozen technology players go under the microscope.

As I stated yesterday, today's economic numbers are broadly better and the market is responding in kind. Yesterday was all about the Lehman Brothers (LEH) fear trade, so what could have been a strong day closed weakly.

So when do we see all the economists and such who were calling for (or saying we were in) a recession come out and say, "Sorry, I was incorrect?" I'll hold my breath. Below, some notes on technology movers and shakers:

SuccessFactors (SFSF): The company announces a secondary offering and is trading higher. In effect, more supply and the market likes it.

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Ciena Corporation (CIEN): If the software company was trading closer to $37or higher I'd be hedging or trimming. As it is, I think the shares have pulled back enough to ride with my core position of "through thick and thin" for a good while longer. I've cut exposure into the late spring ramp so it wouldn't bother me to see a "sell the news" reaction. I still think the 2009-2010 period will be as good as the last couple of years for them, if not better.

Altera Corporation (ALTR): The company guides to the high end of former guidance. Shares are responding, as is sister company Xilinx.

Xilinx (XLNX): Speaking of the leader in the digital programmable logic device market, note to self: Next time the market is terrible, buy some under $22.

Google (GOOG): On another note, for those using -- or interested in using -- Google applications, there's a manual by BNET called Google Apps: The Missing Manual. Just passing it along.

Perfect World (PWRD): This stock looks to have completed a near-term pullback -- and is poised to rise even further -- since the company reported another very strong quarter. I added this after a few days of weakness following its report.

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Position in CIEN, GOOG and PWRD.

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