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Microsoft reported earnings and the Street doesn't seem to like the number. Consensus estimates were for 30 cents and the company came in at 27 cents. The initial reaction was a dollar drop in the shares from their 4:00 closing price.
What we need to keep an eye on is what the company says as I think their comments will ultimately determine how the shares open tomorrow. At this point, it will take a good deal of sweet talking to boost the shares.
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Stocks quoted in this article:
The bulls failed to make a push so the SPX ends another day within a chip shot of 1100. Meanwhile, the COMP and DJIA showing an interesting divergence. The COMP is poised to challenge its high from earlier this month while the DJIA can't pick itself up off the mat. The figures below should be close to what is counted as the official values. For now, everyone waits to see what MSFT has to say...
| Index |
Index Value |
Point Change |
Percent Change |
| S&P 500 (SPX) |
1106.5 |
2.8 points |
0.26 percent |
| Dow Jones Industrial Average (DJIA) |
9865.8 |
-21 points |
-0.2 percent |
| Nasdaq Composite (COMP) |
1953.6 |
20.6 points |
1.07 percent |
| Russell 2000 (RUT) |
576.7 |
6.5 points |
1.15 percent |
| CBOE Market Volatility Index (VXO) |
15.0 |
-0.11 points |
-0.7 percent |
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Computer problems left me struggling to catch up with the market last week and Limerick Friday was a casualty of that struggle. However, tomorrow it will return with the theme of the election and the market. I am also looking for a little help from you in urging my colleague Todd Salamone to contribute. If you would be so inclined, please click on the link below and send an email with the title "**Go for it". (You don't have to put anything in the body of the message.) Of course, I haven't asked Todd to contribute so these emails will be coming completely out of left field...
Click Here to Send Todd an Email
And if anyone out there would like to contribute their own original work, I will consider entries that are in proper limerick form and won't offend the censors.
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Stocks quoted in this article:
My colleague Joe Sunderman just pointed out that the Nasdaq-100 Trust (QQQ) is at a four-month high...
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Stocks quoted in this article:
We enter the final hour of trading with the COMP and RUT up one percent, the SPX up one third of a percent and the DJIA at breakeven. This morning I asked if the bulls would try to capitalize on the bears failure yesterday to hold the SPX below 1100. We have see a number of net tick spikes that may hint that buy programs are becoming more active. This should make for an interesting end to the session....
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