Two Ways To Play: Motorola's "Razr"-Thin Earnings Beat
Strengthen your portfolio in good times and bad.
Motorola's Tough Third Quarter
According to Reuters, Motorola's (MOT) beat expectations by $0.03 when it reported third-quarter earnings of $0.05. However, the mobile phone maker missed on revenues, which fell 15.1% year-over-year to $7.48 billion, versus $7.82 billion consensus.
The company issued downside guidance for the fourth quarter, projecting earnings between $0.02 and $0.04 per share. It intends to separate its mobile-phone business from other profitable units. Co-CEO Sanjay Jha said his company is no longer targeting the third quarter of 2009 due to the macro environment and stresses in the financial markets.
From the Bull Pen: As bad as the numbers seem, Motorola appears to want to bust through the $6 level. Those bullish can set a sell stop near yesterday's close of $5.46.
From the Bear Cave: Those looking for a bearish tech play can consider Apple (AAPL). Toddo has mentioned the importance of the $115 level. Bears can test the downside if and when the stock reaches that level.
Quick Check Around the World
Asian trading closed with the Hang Seng 12.82%, Nikkei 9.96%, Sensex 0.40%, Taiwan 6.29% and Shanghai 2.55%.
Glancing towards Europe, we see the CAC 1.64%, DAX 4.84%, FTSE 2.20%
As of 8:10 a.m. EST, S&P Futures are trading +26 to 953, and Nasdaq futures are +31 to 1325.
A Look At Commodities
Crude oil is trading +0.45 to 67.95. Gold is +13.70 to 767.30. Silver is +0.185 to 9.990 and copper is -4.20 to 203.85.
The dollar index is -1.001 to 84.070.
On the Radar
08:30 Personal Consumption
08:30 GDP Price Index
08:30 Core PCE
08:30 Initial Jobless Claims
08:30 Continuing Claims
Click here for the full trading radar.
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