Tuesday, April 25, 2006

Slight Distribution Day

The action in the market today was somewhat bearish. Bond yields spiked higher, and that provided a tough environment for stocks. Many recent leaders were down significantly on the day.

Volume rose on the NYSE, making for a slight distribution day for the SPX. The COMP was only down -0.1%, so that doesn't qualify.

After the close, the earnings parade continues:
  • SIRF reported in-line quarter, but that doesn't look to be enough to keep the stock from selling off.
  • WIRE reported blowout EPS and the stock is trading roughly 10% higher in after-hours
  • AMZN reported in-line results, and the stock looks to be pretty flat
  • ITRI beat the numbers, and the stock should hit new highs
  • GLW beat the numbers by 4 cents, but offered tempered guidance

Tomorrow should be another fun day, so rest up--

long GLW


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