Day Traders Diary
5/13/10
U.S. stocks fell at Thursday's start following great earnings from networking equipment giant Cisco Systems. The Dow Jones Industrial Average fell 53 points to 10,843. The S&P 500 fell 6 points to 1,165. The Nasdaq Composite shed 12 points to 2,412. Dow and Nasdaq component Cisco saw it's shares fall nearly 3.3% following great earnings. Most techs are selling off, but they're trying to make a comeback. Google is higher for once on an upgrade ahead of their annual meeting. Software maker, SAP is modestly lower after confirming they will buy Sybase. Sybase is up 14% following a 50% jump yesterday. Not bad. The earnings keep coming in better than expected, however, most stocks are lower. Jack in the Box, Dryships, Wendys, Kohls, Urban Outfitter, and Sony are lower following earnings. Whole Foods is jumping 6% after beating estimates and raising guidance. In the commodity space British Petroleum continues to struggle with their oil spill. The stock ismodestly lower. Halliburton and U.S. Steel are higher on upgrades. After the first half an hour the averages remain in the red, but not by much. The financials are quiet this morning. Through the morning the averages remain in the red. In the afternoon the averages were quiet until the last hour. Some weakness in the Euro caused the Dow to drop a quick 100 points. The Nasdaq fell 30 points, but nothing like the volatility we had last Thursday. The Dow Jones Industrial Average finished down 113 points at 10,782. The S&P 500 Index declined 14 points to 1,157. The Nasdaq Composite declined 30 points to 2,394.
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