“Technology stocks slipped into the red by midday Tuesday as strong early gains in the broad market were offset a sell-off on shares of Hewlett-Packard,” Dan Gallagher reports for MarketWatch.
“HP was down more than 6% by the afternoon. The previous day, the company issued its full earnings report for the third quarter after a positive preannouncement the week before. The company maintained a relatively strong outlook for 2009, leading some analysts to speculate whether H-P is being too optimistic in the face of a global economic meltdown,” Gallagher reports.
“Among other big tech players, Apple (AAPL: 89.68, -3.27, -3.5%) , Microsoft Corp. (MSFT: 19.83, -0.86, -4.2%) , Oracle Corp. (ORCL: 15.97, -0.67, -4.0%) and Cisco (CSCO: 15.50, -0.90, -5.5%) were all in the red,” Gallagher reports.
Full article here.
Too optimistic. Not optimistic enough. Exactly the right amount of optimism, the rarity of which is a definite cause for “concern,” according to… blah, blah, blah.
Any random horse can produce the same or better “analysis” as most Wall Street “analysts” simply by lifting its tail.