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Solid Companies on the Backburner: Apple, Google, Akamai...


These are trying times for longer term investors but strong fundamentals usually find a way to be recognized over time.


In times like these I go back to all my notes on the companies that had very solid EPS reports and have still been trashed. There are a lot of these but the Blackstone (BX) quarter really rings a bell. They can benefit directly from several factors; including the lower rates, recently trashed equity prices, better psychological tone in the market as well as being able to take advantage of truly distressed situations. BX remains my favorite financial name for the long term.

Other names showing strong pre-market action but still well off highs or even still below the levels of a week ago are Apple (AAPL), Google (GOOG), Akamai (AKAM), Nymex Holdings (NMX), NYSE Euronext (NYX) and Goldman Sachs (GS).

  • AAPL: Had that bone-crushingly good quarter and the stock is 20 points off where it closed pre-earnings. Hewlett Packard's (HPQ) talk of strength in computing could also be a mulit-week catalyst or longer as AAPL could continue to gain PC share.

  • GOOG: I think its quarter was better than the market reaction to the stock. People always want to buy GOOG into strength, but history shows it's much better to buy the stock during severe stock sell-offs and waiting for catalysts.

  • AKAM: Again like GOOG, I thought that AKAM's quarter was better than the market reaction, but this is one stock I've never liked chasing and instead try to buy on severe weakness as I stated yesterday.

  • NMX/NYX/GS: Exchange/broker stocks will have been doing massive business the last few weeks in these turbulent markets, yet they have been hit as hard as any area. Additional additional positive Fed action could be the catalyst to send these types of stocks to new highs or close to old ones

Good luck out there and be prepared, fades into strength. These are trying times for longer term investors but strong fundamentals usually find a way to be recognized over time.

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Positions in BX, AAPL, GOOG, AKAM, NMX, NYX and GS.

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