This is also the prediction post for tomorrow.
The After hours started out today with
Schering Plough (-3%) , reporting earnings the earnings beat estimate, but the profit falls on unexpected charges.
Merck, (-6%), turns a profit on cost cutting, reporting flat sales, and their flagship drug Vytorin fails a study.
They announced they would not be issuing guidance for future quarter due to the Vytorin study.
Apple, misses estimates, investors are concerned with guidance. Apple has also reported lower margins on sales. Stock fell 17 dollars or 10%.
American Express, down 11%, the company said due to credit issues in this bad economy they expect to not be able to beat guidance till the economy improves.
Sandisk, posts sharp losses, stock falls 13.55%.
This shows that when people thought during a bad economy tech was the place to be, tech constantly under performing.
Like I have said before on this blog, the economy is in a bad shape. Do not buy into these house of card rallies propped up by the SEC and the Treasury.
You should have been shorting at the peak of the up side.
Today was when you should have benefited from the shorts.
Currently DOW futures are at -110. This signals a weak open, probably falling lower.
The After hours started out today with
Schering Plough (-3%) , reporting earnings the earnings beat estimate, but the profit falls on unexpected charges.
Merck, (-6%), turns a profit on cost cutting, reporting flat sales, and their flagship drug Vytorin fails a study.
They announced they would not be issuing guidance for future quarter due to the Vytorin study.
Apple, misses estimates, investors are concerned with guidance. Apple has also reported lower margins on sales. Stock fell 17 dollars or 10%.
American Express, down 11%, the company said due to credit issues in this bad economy they expect to not be able to beat guidance till the economy improves.
Sandisk, posts sharp losses, stock falls 13.55%.
This shows that when people thought during a bad economy tech was the place to be, tech constantly under performing.
Like I have said before on this blog, the economy is in a bad shape. Do not buy into these house of card rallies propped up by the SEC and the Treasury.
You should have been shorting at the peak of the up side.
Today was when you should have benefited from the shorts.
Currently DOW futures are at -110. This signals a weak open, probably falling lower.
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