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Oracle to the Rescue?

by @ 10:27 pm
Filed under: financial — Tags: ,

OracleThe market hasn't been feeling so well lately. Maybe it's the European crisis or the not so great news on jobs or the bad housing numbers or the gushing BP oil, or the brutal summer heat. It was yet another bad day with the Dow off 145 points or 1.4%.

What the market needs is a bit good news to cheer it up and it might have received that in the form of Oracle's earnings release tonight. Fresh off Sun's acquisition Oracle reported earnings of $0.46/share, handily beating the analysts' estimates. In response, Oracle's shares rose 4% in after-hours trading.

Oracle's good news could bode well for the market tomorrow, specially for the tech sector so we may finally see some solid gains. The rosy earnings could be interpreted as a signal that businesses have started robust spending. That should eventually translate into more hiring which is exactly what this economy needs to pull it out of its long malaise.

Apple Passes Microsoft

by @ 12:04 am
Filed under: financial,google,microsoft — Tags: , , ,

It's hard to believe, but today Apple's market cap of $222B is larger than that of Microsoft which finished at $219B. That makes Apple the biggest Tech company on the block today. Microsoft will probably reclaim the top spot tomorrow, but Steve Jobs must be happy to have surpassed its old nemesis.

And Google? Today its market cap stood at $151B. Still has a long way to go to catch up to the big guys. Don't shed any tears though, Google is much younger than the duo. It'll get there in due time.

Stock Market Drop

by @ 10:32 pm
Filed under: financial — Tags: , ,

As I saw the market take a deep dive around 2:30 today my reaction was a mixture of fear and excitement. I'd never seen anything like this before. I saw Apple's stock take a nosedive to under $200 in a matter of minutes. There were red figures everywhere, almost as if a child was commandeering the market.

By the time the Dow had plunged by near a 1,000 points, I knew this was an irrational panic and that we would see a snap back. It happened fast. In just a few minutes the DJIA recovered 600 points in the wildest whipsaw I'd ever seen. Now I don't play the market as I once did. Too bad, I could have made a killing today playing a few option contracts - Could have, should have, would have.

Then again, if I had acted on my own feelings on Apple a couple of weeks ago, I'd be reaping some decent profits today anyways. But it doesn't matter, with the stock market there's always another day and another chance. Although we may not see volatility like this again for quite some time.

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