S&P 500 (JUN) +1.00 NASDAQ 100 (JUN) +2.00 Dow ($5) (JUN) +12.00
Treasury Bonds
5 yr note 4.85 +0.03 10 yr note 4.89 +0.02 30 yr note 5.01 +0.01
Currencies
US vs Euro 1.3448 -0.03%
US vs Yen 0.0082 +0.04%
Commodities
Gold (CMX ) 666.70 +7.40
Light Crude (NYM ) 64.01 +0.52
Briefing.com
After-Hours Report
Dell Tops Forecasts
Last Update: 31-May-07 17:26 ET
Price level vs. 4 pm ET: The major averages finished mixed news as investors juggled more M&A news with mixed economic data and valuation concerns. The S&P 500 eked out just enough of a gain to close in record territory for a second straight session.
Seven out of ten economic sectors posted gains today.
A slightly upbeat tone also dictates the after hours session. Dell handily topping Wall Street expectations is contributing to the positive disposition. The S&P 500 futures, at 1534.00, are 1 point above fair value, while the Nasdaq 100 futures, at 1934.00, are 2 points above fair value.
| Company | Stock Move | Reason for Move |
| Dell (DELL) | 28.56 +1.64 (+6.13%) | Dell reported Q1 (Apr) earnings of $0.34 per share $0.08 better than the Reuters Estimates consensus of $0.26. Revenues rose 2.7% year/year to $14.6 bln vs. the $13.93 bln consensus. Briefing.com Note: $0.34 EPS actual includes $0.02 in costs associated with ongoing investigation, so upside EPS surprise may be greater. Co comments on outlook, "DELL operating margins will be under pressure sequentially in Q2. In the second quarter, operating margins will be under pressure sequentially as the company enters the seasonally slower quarter with elevated operating expenses and additional costs related to the ongoing investigations. In addition, results for the year could be affected by additional transformational actions, changing competitive dynamics, a more aggressive pricing environment and higher component costs in the second half of the year."
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| Brocade (BRCD) | 8.96 -0.23 (-2.51%) | Excluding non-recurring items, co reported Q2 (Apr) earnings of $0.11 per share, $0.02 better than the Reuters Estimates consensus of $0.09. Revenues rose 54.0% year/year to $345.3 mln vs. the $345.4 mln consensus. "The fundamentals of our business remain strong and I am extremely pleased with our execution this quarter. We will continue to execute on our strategy of growth and diversification and we remain committed to delivering exceptional results."
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| J. Crew Group(JCG) | 46.59 +1.72 (+3.83%) | Co reported Q1 (Apr) earnings of $0.39 per share, $0.09 better than the Reuters Estimates consensus of $0.30; revenues rose 23.5% year/year to $297.3 mln vs. the $270.4 mln consensus. Co issues FY07 guidance, now sees full-year EPS of $1.37-1.41, versus previous forecasts of $1.27-1.31; sees Q2 EPS of $0.26-0.28 (consensus is $0.28).
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| Activision (ATVI) | 19.50 -0.29 (-1.47%) | Excluding non-recurring items and option expense, co reported a Q4 (Mar) loss of $0.04 per share, $0.01 worse than the Reuters Estimates consensus of ($0.03). Revenues rose 66.1% year/year to $312.5 mln, well below the $213.2 mln consensus. Co issued EPS guidance for Q1, sees EPS of $0.05, which will include charges and may not be comparable to $0.07 consensus. Revenues are expected to be $425 mln (consensus $352.89 mln). For FY08, co sees EPS of $0.55, excluding option expense, which will include Q1 charges and may not be comparable to $0.56 consensus. Co raised its revenue guidance to $1.8 bln from $1.6 bln (consensus $1.71 bln).
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| Immucor (BLUD) | 28.55 -3.03 (-9.59%) | Co issues fiscal 200 guidance, sees full-year EPS of $0.92-0.96 (consensus $1.03) on revenues of $249-$257 mln (consensus $259.98 mln). With respect to revenues, the co has extrapolated recent past results and assumed the co will generate additional revenues from the renewal of customer contracts at higher prices. The continuing sales of the Galileo instrument in North America and Europe, sales of the Galileo Echo which is expected to be launched in 1Q08 and the reagent growth associated with instrument placements.
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With nothing of note on the earnings calendar tomorrow and the market's focus having shifted to "incoming" Fed data, Friday's tone will be predicated largely on the basis of what a plethora of key economic data will imply about the interest rate outlook. Heading the list will be the April Employment report given its influence on the market's outlook for the economy and Fed policy.
Personal Income and Spending, which also hits the wires at 8:30 ET, will be watched closely since inflation remains the Fed's predominant concern. Special emphasis will be placed on the core PCE deflator -- a favored inflation measure by Fed officials. The May ISM Index, Pending Home Sales for April and a revision to monthly sentiment compiled by the University of Michigan, all hitting the wires at 10:00 ET, will close out this week's busy economic calendar.
_____________________________________________________________Events for Friday, June 1:
- Earnings: Kirkland's (KIRK)
- Economic Data: May Employment Report, Personal Income and Spending, ISM Index, revision to Univ. of Michigan Sentiment, Pending Home Sales, Auto and Truck Sales
- Events: WY Analyst Meeting
- Conferences: Bank of America Healthcare Conference, Cowen and Company 35th Annual Technology Conference 2007 Focus on MidCap, Lehman Brothers Worldwide Wireless & Wireline Conference
- Fed Speakers: Fed's Krosner speaks on the U.S. economic outlook at the Institute of International Finance's 2007 Spring Membership Meeting
Technical Analysis
Throughout the past few days, the overall market sentiment was good, considering what the Fed has said about the economy. What I've done for the past few days was only looking at the technicals and guessing how the market will close. In actual fact, I didn't even looked at the news when I do this.
So what I'm going to do from now on, is to focus on technical analysis first, then go on to looking at the bigger picture: bonds, currencies, asian markets, news, events, even sectors. As of now, I still have a sucky job and I don't have the time to do all these. I will find some ways to make my life easier and do this thing faster. Maybe I will switch to wordpress or something.
Dow Jones Industrial Index 13,627.64 -5.44
A bastardized gravestone and spinning top doji signifies the same thing - end of a trend. Was it an uptrend or consolidation? I would say it's an uptrend. Since the Dow has broken one of the 161.8% XOP, it's kind of like continuing an uptrend after the week-long consolidation. Again, it is too soon to tell how to trend is going ot change and it requires confirmation. Could be an evening star, could be a bullish engulfing, I don't know...just wait and see.1st intraday resistance: 13,638
2nd intraday resistance: 13,645
1st intraday support: 13,622
2nd intraday support: 13,548
5 day interday high(resistance): 13,673
5 day interday low(resistance): 13,424
Direction for 290507: DOWN
NASDAQ Composite Index 2,604.52 +11.93
A spinning top. Nasdaq is not currently on an uptrend. Looking at the fibonacci levels, I think that it will stay at the 100% level for some time before it can go up again. There is too much gain on Wednesday, profit-taking is a must!1st intraday resistance: 2,607
2nd intraday resistance: 2,2622
1st intraday support: 2,599
2nd intraday support: 2,582
5 day interday high(resistance): 2,608
5 day interday low(resistance): 2,531
Direction for 290507: DOWN
S&P500 Index 1,530.62 +0.39
Another doji. This time, S&P is on a 6-week-long up trend(at least on this chart). Since it has already tested the 100% level(red) and found no strength and yesterday was a doji, it has a high possibility of going down.1st intraday resistance: 1,532
2nd intraday resistance: 1,533
1st intraday support: 1,529
2nd intraday support: 1,527
5 day interday high(resistance): 1,536
5 day interday low(resistance): 1,505
Direction for 290507: Down
The Fear Gauges...
The $VIX...
Both has hit support levels, formed a doji after a huge tank, therefore it will go up, sending the volatility of all indexes up. We are going for a down day....& $VXN
With the non-farm payrolls and other inflation indicators coming up, we are in for a ride! Where it will end, according ot my technicals it should be a down day. Who knows? Technicals may be reliable, but the market is too dynamic for absolutes. In times like this, we need to look at the shorter-term to earn money. Meaning, WE WILL SCALP IN HELL TONIGHT!!!Market Direction for 290507: DOWN
| NASDAQ 100 (JUN) 
