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Buzz Bits: Dow, Nasdaq Have Another Up day

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



Earnings Report - MV News

  • Applied Materials (AMAT) reported 4Q EPS of $0.30 vs $0.31 cons on revs of $2.52 bln vs $2.56 bln cons.
  • Network Appliances (NTAP) reports 2Q EPS of $0.18 vs. $0.17 on revs of $652.5 mln vs. $645.7 mln cons.
  • Hot Topic (HOTT) reports 3Q EPS in-line of $0.16 on revs of $196.7 mln previously reported.
  • BEA Systems (BEAS) reports 3Q revs of $347.7 mln vs. $348.7 mln cons.
  • Limited Brands (LTD) reports 3Q EPS of $0.06 vs. $0.07 cons on previously reported revs of $2.12 bln.



Bell Buzz - Todd harrison - 3:51 PM

  • Look on the bright side, we've only got three days left!!!

  • S&P 1400 capped 'em like O-Dog in a convenience store. More likely than not, that level will prove problematic in the days ahead.

  • S&P 1390, for those keeping score at home, remains the "What, me worry?" level for the bulls.

  • Whether you're trading or singing, playing blind man's bluff is just a little baby's game.

  • 22.6% bears? That's almost fadable...but only in the context of defined risk please.

  • And just like that, another session is creeping towards yesterday. Sometimes I sit back and say, "Wow, it's almost 2007," remembering what it was like to be sitting in front of these screens in '91, '95, '99, '03...same shvitz, different tape. Blink, and it'll be '09, '11, '13....so try to enjoy the journey, Minyans. That's what makes it all worth while.

  • I'm on (another) flight to Compton-Long Beach---OK, it's Burbank but who's counting--tomorrow morning and will try to scribe some vibe on the plane. I'll be back in this saddle on Monday, post November paper and chock full of mojo.

  • And finally, we're 15 (count 'em!) days away from our fantastic NYC Festivus. Our charity benefit will double as a holiday party so feel free to join us and gaggle in the new year. Hey, Steve Shobin will be there---what else can we ask for?

  • Fare ye well into the bell and have a very mindful night.


R.P.



If I (still) did it - Jeff Macke - 12:52 PM

If I still ran a hedge fund the biggest fear I'd be having right about now wouldn't be buying stocks here and it wouldn't be shorting them. No, if I were still running OPM my biggest fear would be missing gains, both over the last 10 and a half months and for the balance of the year.

I wouldn't be proud of this fear. I would have disdain for both it and the short-sighted nature of modern financial management the fear represented. But that's what would scare me and, like it or not, I'd really need to do something about my fear of missing a fourth quarter rally. Had I been lagging the major indices YTD the fear would be close to unbearable.

I'm pretty sure I'm not the only one who would be feeling that way. In fact, I think it's been a tough year to be "hedging" at all which makes me think there are fund managers out there, right now and in reality, who are feeling both my hypothetical fear and a very real desire (need) to chase 'em higher.

From where I'm sitting, that's bearish for the Big Picture but leaves me in Hoofy's camp in the here and now.


Flying higher... - John Succo - 9:39 AM

All the airlines are bid up this morning from the news that U.S. Airlines (LCC) wants to buy Delta Airlines out of bankruptcy.

First of all, if this deal goes through it looks to me that the only airlines that would benefit would be AirTran (AAI) and JetBlue (JBLU).

AMR is currently up $1 and trading higher than its pre-9/11 price. Continental (CAL) is up $2. The feeding frenzy continues.

Secondly, it looks to my firm that this deal will not even get done. U.S. Air is offering $8 billion to settle $30 billion in debt. We do not think the creditors will agree to this price or anything close.

Positions in AMR, CAL, AAI


This won't turn down on a dime... - Rod David - 8:36 AM

...But maybe on a quarter. Tuesday's last hour only consolidated the afternoon's S&P surge instead of extending higher. MACD and RSI meanwhile deteriorated. This doesn't signal an immediate dip any more than it precludes higher highs. But it does suggest that the base from which higher highs might be attempted is unable to launch a sustainable rally. It also suggests that the next upleg's failure will reverse down back under Tuesday's last-hour consolidation.

Today is critical, because fresh breakouts are more vulnerable than trending to being proved false. Wednesday's S&P close needs to exceed the same margin as Tuesday's new high, and then it's safely on to greener pastures. A close back under October's prior high today wouldn't just be "buyer's remorse" over yesterday afternoon's surge, but over the entire rally from November's low (for starters) - click here for a chart.


What you need to know... - Jon Doctor J Najarian - 8:12 AM

US Air (LLC) Bids for Delta – In the first of what I believe will be many mergers of carriers, US Air is buying Delta for some $8 billion, half in cash and half in US Air stock.

SunPower Buys PowerLight for $265 million - The San Jose, California solar power company expects the deal to immediately boost non-GAAP earnings, as PowerLight is a provider of large-scale solar systems with operations in Germany, Spain, Portugal, Italy and South Korea.

Tyco Net Blows By Estimates – The diversified conglomerate reported 4Q net income of $1.27 billion, or 62 cents a share versus a Street estimate of $0.49 per share. Earnings from continuing operations amounted to 63 cents a share for the latest quarter.

J.P. Morgan Cuts Bed Bath & Beyond (BBBY) - The home-improvement company was reduced to underweight from neutral, as JPM said current quarter results are probably "fine" but that this is more than reflected in the share price.

Position in SPWR

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