Tuesday, July 20, 2010


This week ushers in yet another bevy of earnings from some of the heavier hitters. Last night IBM's report was met with little fanfare and saw its stock price down about 5%. This morning's GS announcement resulted in a sell-off, albeit much less than IBM. Tonight we've got AAPL reporting. Wednesday brings QCOM and MS. And finally Thursday includes reports from MSFT and AMZN. Suffice it to say, those playing earnings have a few seasonal favorites to choose from this week. If time permits I'll take a look at AAPL before the close today.

Thus far in this earnings cycle we've seen some classic buy the rumor sell the news action. Alcoa was up a solid 10 - 15% into the announcement before seeing its earnings gap sold into aggressively. Ditto for Intel. On top of the good earnings reactions getting sold into we've had a couple company's getting notably whacked such as Bank of America and Google. Though GOOG was pricing in about a $20 up or down move, it ended Friday down around $30.

Need some help passing the time till AAPL reports tonight? This from Kobe's biggest fan-