Filed under: After the bell, Major movement, Earnings reports, Cisco Systems (CSCO), Market matters, Economic data, DJIA
As you saw in a Market tankola note earlier, today can be blamed on oil or many other things. But the charts are likely the real culprit as old resistance levels didn’t hold as the new support levels. The bears may have gotten an upper hand for a while if today’s sentiment holds.
To top it off, worker productivity data came out strong enough today that it might even allow companies to make more layoffs. Below are the unofficial closing bell prices today:
- DJIA 12,814.35 (-206.48; -1.59%)
- S&P500 1,392.56 (-25.70; -1.81%)
- NASDAQ 2,438.49 (-44.82; -1.80%)
- 10YR-TBond 3.867% (-0.026)
- 52-WEEK LOWS.
- TOP 10 ANALYST CALLS
Cisco Systems (NASDAQ: CSCO) beat Street estimates for earnings Tuesday with $1.77 billion in net income, or $0.29 EPS, a 5.4% drop from first quarter 2007. Sales of $9.79 billion beat estimates of $9.75 million. Cisco gave 2008 guidance that met expectations as demand for Cisco’s costly networking systems may still be slow during the economic slowdown. Shares fell 2% to $25.78 despite being positive earlier this morning.
Continue reading Closing Bell: Oil + charts = Fear + pain
Permalink | Email this | Comments
Entries (RSS)