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Minyanville's Market Recap: Earnings Make Markets Happy


A positive earnings day in tech land helped the markets finish higher!

Another spark in tech caused a rally in the markets. The Dow Industrials rose +0.81% to 13676, the S&P 500 added +0.88% to 1519, and the Nasdaq Composite gained +1.65% to 2799.

A positive earnings report from Apple (AAPL) last night began the momentum in the tech sector. The company blew away analyst estimates for another consecutive period as iPhone sales reached 1.1 million for the quarter exceeding the pace of the iPod which took two years to reach the same level. In addition, earnings figures showed strong demand in the company's Macintosh computer segment. Apple shares rose as high as 7% on the day, yet Professor Depew noted Demark sell-signals on the open. For more on Apple's numbers, read his Five Things You Need To Know.

Around midday, news of Research in Motion's (RIMM) partnership with Alcatel-Lucent (ALU) caused another boost in tech stocks. The companies both agreed in expanding a partnership for the distribution of BlackBerry Smartphones in China. The news caused a 7% move in ALU and sent RIMM shares surging over 10% to a new all-time high. Google (GOOG) shares benefitted from the news as its shares also reached an all-time high closing up +2.88% to $675.77. Read Toddo's Random Thoughts as he mentions the importance of a number of these tech plays.

Burlington Northern Santa Fe (BNI) reported better-than-expected results of $1.48 EPS vs. $1.37 consensus. Revenues came in at $4.069 billion vs. $4.02 billion consensus. Warren Buffet has been known to increase his position in BNI. Click here to read Professor Udall's new article Ethanol and Rails Through The Eyes of Buffet as he speculates what Mr. Buffet sees versus Mr. Market.

After the bell, Amazon (AMZN) reported third quarter earnings of $0.19 vs. $0.18 consensus. Revenues rose to $3.26 billion vs. $3.13 billion consensus. The initial reaction in Amazon was $7 off of the close.

Broadcom (BRCM) reported 3Q EPS $0.27, may not be comparable to $0.07 cons; revenues came in at $950 million vs. $928.5 million cons. BRCM was offered $1.50 lower in the aftermarket as well.

In commodities action, crude slipped -0.93 to 85.09 per barrel. Gold added 3.7 to 763.7 and copper added 2.35 to 351.00.

For more summaries click on Minyanville's Buzz Bits and Professor Tuttle's Winners & Sinners.

Below is a recap of some of the idea flow on today's Buzz & Banter. Please note that stocks may appear in both bullish and bearish categories, due to long and short term trades by our many Minyanville professors.

Some bullish trade or investment ideas: APH, LNN, NFLX, CNH, FFIV, DAL, UAUA, TXN, CSCO, XMSR, GHDX, CNC, SAY, SIGM, CNH, GOOG, gold, gold shares

Some bearish trade or investment ideas: AAPL, CS, BBI, BKX, CTXS, CFC, UPS, QUID, EEM

The week is flying by. We'll see you tomorrow! Have a good night!
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No positions in stocks mentioned.

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