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Intel Reports Record Quarter!

|Includes:AAPL, AIXG, BBRY, CIEN, CREE, IBM, INFY, INTC, SemiLEDs Corporation (LEDS), NFLX, OUTR, ROVI, VECO

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The market was on the quiet side today and very mixed, ahead of INTC's earnings.  LED stocks slid after LEDS professed pricing pressure would hurt its quarterly results.  LEDS dropped more than 34%!  CREE, VECO, AIXG all traded lower, down 5.4%, 4.23%, 2.05%, respectively.  CREE reports its earnings next Tuesday, after market close.  INFY fell more than 6% today as its earnings results missed estimates.

ROVI recorded a new 52-week high today.  Just 3 days ago, ROVI fell below $59 after issuing conservative guidance.  But, it popped right back up.  It closed above $67 today!  RIMM broke out higher today and traded above $66 before seeing profit-taking.  CIEN also hit a new 52-week high.  We took some profits in RIMM and CIEN:

  • January 13, 2011
  • 11:59 | HappyTrading CIEN ($25.35) Sold to Close 01C24 Jan 24 calls, at $1.50 +28%
  • 07:07 | HappyTrading RIMM ($65.50) Sold to Close 01C62.5 Jan 63 calls, at $3.35 +103%
  • 07:01 | HappyTrading RIMM ($65.25) Sold to Close 01C62.5 Jan 63 calls, at $3.10 +88%

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After the market, INTC did deliver, a record quarter no less!  INTC shares were up +2.11% this evening.  CSTR shares tumbled a whopping 24% after it missed the profit projection.  NFLX only traded slightly lower after CSTR's announcement.  

The Dow was down 23.54 points; SPX slid 2.2 points; Nadaq fell 2.04 points:

Most sectors were in the red today.  GLD (gold) and SLV (silver) fell back again, down 1.04% and 3.45%, respectively.  XME (metals and mining) dropped 1.3%.  USO (oil) was down as well.  XLF (financials) slipped 0.35%.  FXI (Chinese ADRs) was down 0.29%.

SPX

SPX fell 2.2 points to close at 1283.76.  It closed above 1280.  The MACD remained flat.

Nasdaq

Nasdaq slipped 2.04 points to close at 2735.29.  Its daily MAs and MACD glided up.

The market remains strong, although there are some volatility in the commodity sectors.  On Tuesday, commodity sectors bounced.  Today, they fell back again.  Techs continue to climb higher.  We'll see if INTC earnings will provide further fuel to rally the tech stocks.  In the morning, JPM will report its earnings, which should be another market mover.  AAPL and IBM both report earnings next Tuesday after market.  Given that Monday is a market holiday (MLK Day), we could see some further positioning in techs tomorrow.

Good night and HappyTrading! ™ (click to see our Facebook Page)