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Buzz Bits: Dow, Nasdaq Close Higher


Your daily Buzz & Banter highlights...


Editor's Note: This is a small sample of the content available on the Buzz and Banter.

Earnings Report - MV News

  • Sun Microsystems (SUNW) reported 2Q EPS of $0.03 vs $0.01 on revs of $3.57 bln vs $3.52 bln cons.
  • Seagate (STX) reports 2Q EPS of $0.39 vs. $0.32 cons on revs of $3.0 bln vs. $2.93 bln cons.
  • RF Micro Device (RFMD) reports 3Q EPS of $0.16 vs. $0.13 cons on revs of $281.1 vs. $273.4 mln cons.
  • Advanced Micro Devices (AMD) reported 4Q EPS of ($0.04) vs $0.10 cons on revs of $1.77 bln vs $1.73 bln cons. Adjusted gross margin was 40%.
  • Yahoo! (YHOO) reported 4Q EPS of $0.16 vs $0.14 cons on revs of $1.228 bln ex-TAC vs $1.22 bln cons.
  • Steel Dynamics (STLD) reported 4Q EPS of $1.03 (in-line) on revs of $839.8 mln vs $838.2 mln cons.

Bell Buzz - Todd Harrison - 4:01 PM

  • This morning, if you were to tell me that market internals would be 2:1 positive, the dollar was gonna be off 45 bips and emerging markets would be jiggy (EEM +2%), I woulda opined that the markets would be up a lot more than they currently are.

  • What does it mean? It could be nothing---or it could foretell a heavy tape. We noted the angst yesterday when the futes were off four handles. Four handles. I still sense that folks are positioned for a rally and vulnerable on the downside. In a vacuum, today's action supports that vibe.

  • The question of the day seems to be the commodity "durability." I've tried to communicate my vibes on this complex but, as we digest eye-popping (daily) gains and a seemingly changing technical landscape, I'll again offer that, when in doubt, trade a little "in between." When the market opens for business tomorrow, there can be no regrets or looking back.

  • Wow--look at the time! Just when I was gonna scribe something snarky and witty, I look up to see the little hand moving towards the big 12 (insert joke here!). Good luck with earnings, Minyans, and I'll see YOU in the ayem.


Under the Hood - Kevin Depew - 11:55 AM

  • Today new point and figure buy signals are leading 5 to 2.
  • Overall point and figure buy signals are leading 16 to 8.
  • One of the biggest hurdles in understanding markets is knowing what you don't know. For example, I have no idea why stocks continue to go up and up. Fortunately, I don't base my decisions on things I know I don't know and instead try and follow a disciplined strategy that relies on a few key indicators to keep me pointed in the right direction.
  • When the NYSE, Nasdaq Composite and S&P 500 bullish percent indices are all three positive, as they are now, then we must assume that the market will most frequently surprise to the upside and that demand is in control of the market.

Important level coming up in 10's. - Bennet Sedacca - 11:31 AM

I have stated here a lot lately that I think we are in a cyclical bear market in bonds.

See the chart here. The 4.78-4.83% range in 10's is key resistance.

Remember that hedgers remain short although less so than at the peak in yields. I expect them to continue to reduce their short exposure as rates rise (buy low sell high anyone?) and that they will be major-league long by the time we potentially peak in the 5.25-5.50% range.

I think this occurs by April-May.

I also think it will be a huge buying opportunity as I believe we are in a secular bull market in bonds.

So while defensive for now, I will look to get more aggressive as hedgers do.

What you need to know... - Jon Doctor J Najarian - 8:37 AM

Texas Instruments (TXN) Beats Estimates – TXN posted better than expected quarterly profits on a tax credit, but the company's 1Q forecast fell short of analyst forecasts. That does not appear to be negatively impacting the No. 1 cell phone chip-maker as shares trade up nearly 3% in the pre-market.

American Express (AXP) Net up 24% - The credit card giant reported a huge jump in 4Q net income as we shopped 'till we dropped this holiday season. However the higher than expected expenses were somewhat troubling. AXP added 1.5 million new credit cards during the quarter.

Macau Tops Vegas As Gambling Meca – The former Portuguese colony of Macau reported proceeds exceeded the $6.5 billion in gambling revenue on the Las Vegas Strip in 2006. At the end of 2006, Macau had 24 casinos operating 2,762 gaming tables and 6,546 slot machines.

Pfizer (PFE) To Cut 10,000 Jobs – The widely anticipated restructure plan for the drug giant isn't winning over many investors, including Bear Stearns, who downgraded the shares. CEO Kindler spoke with investors and analysts in New York and pledged to to slash bureaucracy inside the world's largest drug maker.

Positions in TXN, PFE

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