This morning we have had a number of earnings reports come out.
Wachovia Bank WB: had a wider then expected loss and cut their dividend to 5Cents from 37 cents. WB is trading in pre market $12.10 down 7.5%
I will note this on Wachovia.....about a month ago the Fast Money Guys told viewers not to buy Wachovia Bank until they cut their dividend....and today they did just that. Guy Adami on Fast Money told viewers to wait until WB trader 125 million shares on a down day to get long. Today could be the day you may want to get long.
Caterpillar CAT: reported solid earnings this morning $1.74 per share vs $1.54....stock is up 3% in pre market.
Brocade BRCD is buying Foundry Networks FDRY
Tonight keep your eye in ISRG earnings.....that stock moves bigtime!
Apple AAPL is down 10.50% at $148.70......I'm looking for $145 or lower and then I think it would be an interesting buy. The problem I have is all the good news is out.....your going to have three months of people questioning earnings and Steve Jobs health...no new products....rebate checks are done for the most part. I am hesitant to buy here. Just my opinion!
Tuesday, July 22, 2008
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