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...upcoming earnings, SONS stock is just seeing some external effects from what the markets are doing:
13:01 Market Update: Buyers Boost Stocks with Broad Bid Stocks have spent the entire session sporting impressive gains as participants offer a broad-based bid following a couple of pleasing economic reports and a strong quarterly report from Cisco... Cisco (CSCO 23.90, +0.61) announced last night top and bottom line results that bested analysts' expectations and authorized $10 billion to add to its share repurchase plan, which now stands around $13 billion. The company also issued during its conference call a solid outlook... Initially that report didn't do much for the broader market, but interest in the stock has grown throughout this session spread to the rest of the tech sector, which is the largest in the S&P 500 by market weight and is now sporting a 2.0% gain. That's better than any other sector at the moment... Better-than-expected third quarter productivity data and modest improvement in weekly jobless claims totals helped firm up the mood of participants this morning. Third quarter preliminary nonfarm productivity surged 9.5%, which is far better than the 6.5% increase that was widely expected. Meanwhile, the latest initial jobless claims tally fell 20,000 to 512,000, which isn't quite as bad as the 522,000 initial claims that had been expected. Continuing claims came in at 5.75 million, which is in stride with what had been forecast... Midday gains are strong and broad-based with all 10 major sectors in the green. Only consumer staples (+0.5%) have failed to make their way to a gain of at least 1%. The sector's relative underperformance stems from considerable weakness in shares of CVS Caremark (CVS 29.06, -7.09). The company's better-than-expected earnings and additional share repurchase authorization have been overshadowed by concern for the company's PBM business. Dow +1.9%, Nasdaq +2.2%, S&P 500 +1.7% Rating :
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Don't be fooled into thinking up move is due to SONS...
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whataposdis... | Not rated | 5-Nov-09 01:09 pm | ||
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Up over 10% dumb @#$%. That's not the overall ma...
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serfbum1 | Rate it | 5-Nov-09 01:51 pm | ||
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Not a market effect, nor earnings related eit...
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ibexx | Rate it | 5-Nov-09 01:55 pm | ||
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That's what I love about Crapper .... you can...
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Student_gra... | Rate it | 5-Nov-09 01:56 pm | ||
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Ahh Mr. "Master Trader" you truly are so angr...
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whataposdis... | Rate it | 5-Nov-09 02:02 pm | ||
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Crapper says 'All I SEE' .. and gets cau...
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Student_gra... | Rate it | 5-Nov-09 02:06 pm | ||
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whataposdis... | Rate it | 5-Nov-09 02:44 pm |
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