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Buzz Bits: Dow, Nasdaq Rebound

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Your daily Buzz & Banter highlights...

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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

  • Cognos (COGN) reports 1Q $0.32 vs. $0.32 cons on revs. $236.7 mln vs. $237.1 mln cons.
  • Jabil Circuit (JBL) reports 3Q earnings of $0.23 EPS vs. $0.20 cons on revs $3 bln vs. $2.94 bln cons.
  • Tektronix (TEK) reports 4Q $0.45 EPS vs. $0.42 cons on revs $298.5 mln vs. $295.2 mln cons.



Engine Room, More Buzz!- Todd Harrison- 3:46 PM

I had a fantastic Buzz ready to roll and my system blinked and lost it. Frustration station in a big way but what are ya gonna do? Yeah, me too...

Some of the thoughts, as I can recall them...

  • When I was a kid, I used to pretend something didn't exist and hoped it went away. I was thinking of that as I read Merrill's decision to hold the bag, er, CDO's from Bear.

  • The semis are pointing up (all day), the BKX (still at the 200-day) is pointing down and the breadth, the single best tell of late, suggests a flat close. Trading is all about identifying a high quality quack count and as it stands, I don't see it. Not yet, anyway.

  • We saw size call buying in Kraft earlier and I A.D.D.'d the Buzz. Mea culpa and I promise, no more cheesy excuses!

  • Do something Joel.

  • That Adam Smith dude was one sharp cookie. Division of labor is a snazzy concept--now if I could figure out how to apply it to my inbox, I'd be a happy camper.

  • Note the dollar as it's creeping higher. This has all sorts of implications for asset classes of all shapes and sizes (not to mention rates).

  • Hey, it's Television's JeffMacke!

  • Remember, Blackstone prices tonight and it'll dominate discussions tomorrow. Last I heard it was 6X oversubscribed, which may be helping sentiment today.

  • Did you know that you can filter your Buzz by clicking on the "preferences" tab below? And we're also offering Custom Buzzes now for institutions, which all YOUR team to commingle YOUR content with our application. It's gaining alotta traction around the street so if you would like more information, lettuce know!

  • I've gotta jump and juggle a bit, Minyans, so lemme hop. It seems like these weeks are one long day and I, for one, am feelin' fried. I'm gonna try to get in front of a screen tomorrow but lest I can't, have a fantastic Friday and a mindful weekend respite!


    R.P.



"Short" on Technology?- Adam Katz- 2:28 PM

Looking through the technology lens, I am now adding to some of my favorite shorts which include McAfee (MFE), Symantec (SYMC), Business Object (BOBJ) & Cognos (COGN).

Why? Because my understanding is that the Microsoft (MSFT) partnership channel is being met with a meaningful degree of success in getting small and medium sized businesses (in a fairly short period of time) to sign new enterprise agreements (EAs) not only for their traditional services, but also because of new security and business intelligence (BI) features that are rolled into their new suites (although the BI server, PerformancePoint, will ship later this year).

At the very least, it should cause some elongated sales cycles as buyers evaluate what they are getting as part of their EA with MSFT before making additional purchases for new products in the BI and security spaces.


Two Quick Thoughts- Jeff Macke- 1:21 PM

Quick thoughts as I run out the door to deal with more details on our move from New Jersey to Westchester County (nothing particular against NJ; we were renting in Joisey while we investigated the greater NYC area):

1) GE taking a pass on Dow Jones (DJ) strikes me as exactly why the Dow Jones board got involved with the negotiations; in order to make a decision, one way or the other, rather than dragging out the process forever. Odds favor Rupert and NWS but, obviously, nothing is done yet. (And, no, I don't have any special information from GE on this matter... I'm just a talkin' guy, they don't discuss inner corporate workings with me).

2) Prof Krug pinged me, mulling a darkside shot at Jack-In-the-Box (JBX). I wouldn't go there for my book but I can understand his thinking. Wendy's (WEN), on the other hand... hmmmmmm...



Lots goin' on...- Jeffrey Cooper- 11:57 AM

Pretty much textbook trading with the last hour swoosh and the washout to the 50 day moving average in the first hour. See this morning's column...

What happens now that the hot money shorts have covered and the bulls have bought the 50 Pavlovian style?

See the daily S&P with 50 here...

Chop Suey.

Blackstone on the menu.

Russell 2000 rebalancing.

Quarter end window undressing?

What ever happens into Friday, my instinct tells me Monday and Tuesday will see selling pressure.

Cleveland-Cliffs (CLF) finally tagged the 50 dma and has traced out a 'Stein and Handle' on its 10 min this morning. See chart here...

Positions in CLF

No positions in stocks mentioned.

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