Tuesday, May 09, 2006

Stocks Hang Tough

Stocks are hanging in there ahead of tomorrow's FOMC meeting. Of course, all of the action will come after their announcement, and we could see a bit of a selloff.

Sandisk (SNDK) is hanging in there okay, after issuing a big secondary offering last night. There were some positive comments about the supply/demand equation in the flash memory markets today, and SNDK should be a beneficiary.

BJS also hangs in there, after being down more at the open on the heels of a JP Morgan downgrade. Still more upside for this one if it is to come even close to its bretheren like HAL and SLB.

And how about the reaction in HANS to earnings? Wow. Citigroup upped their price target to $205. And the company also confirmed the long rumored deal with BUD for distribution.

long BJS, C, SNDK


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