Macke's Movers: Market Digests Apple's Quarter
Reaction to news more important than news itself.
Greetings from New York, where not all the Monday rain in the world can get me down, baby. We've got breaking deals, bubbling crude and five days and an uncharacteristically interesting Federal Reserve Meeting coming up this week. There's money to be made, Minyans. Here's what I'm watching as fate sets the table.
- Todd-O pings me that Microsoft (MSFT) has "pulled back to where it needs to." Amen. If and when Steve Ballmer takes my advice and tells Yahoo (YHOO) to Go Fish, Mr. Softie goes back to where it was before it turned in the mediocrity that was its last quarter.
- Speaking of which, my chart, Todd-O? Upward and to the Right, thanks.
- By the way, Apple's (AAPL) quarter was just about as exciting as MSFT's when you really look at it. A beat and a numbers reduction; Apple is up $10 and MSFT is down 10%. This just goes to show it's never the news, it's the reaction (my personal vote for Minyanville's unofficial motto).
- More airline mergers? This excites us why, exactly? Seriously, there is nothing, nothing, this industry can do to save itself. "Amtrack. Greyhound. Single-Merged-Airline." Three peas in a grim pod.
- Today's fake scandal is being brought to you by Vanity Fair, after Disney (DIS) pixie Hannah Montana/Miley Cyrus is pictured wrapped in sheets. Seems like a Rorschach inkblot test to me, folks. If you see a partially bare back in Vanity Fair and think "unadulterated filth" it says more about you than it does the photos.
- Oh yeah, Disney reports this week. I'm expecting nothing Earth-shattering and I remain long the stock. It's about the brand.
- Remember when Bear Stearns (BSC) was going to get bought by Warren Buffett for $130 per share? That may go down as the single greatest Exit Ramp Opportunity Rumor of all time.
- OPEC's President says oil could be at $200, considering the falling dollar. When reached for comment, crude oil said "There's still an OPEC?"
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