OPTIONSMART MORNING UPDATE: Fighting back on earnings optimism
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October 23rd, 2009 at 5:12 am
OPTIONSMART MORNING UPDATE: Fighting back on earnings optimism
1. OUTLOOK: Better-than-expected results from four components pushed the Dow industrials above 10,000 again. The tech sector fell on profit-taking. Broadcom beat estimates. Microsoft launched the newest version of its operating system, Windows 7. Microsoft reports quarterly results today. PC vendors already stood to benefit from a hardware refresh cycle next year. Microsoft's new, supposedly more stable platform should serve as further impetus to upgrade aging machines. After hours, Amazon beat expectations and jumped 9%. Importantly, Amazon also raised Q4 guidance. QQQQ's implied volatility, the tech sector "fear gauge", plunged again below the extreme 20 level. U.S.futures point to a higher open.
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