The market posted solid advance, as investors awaited the confidence vote for Greek Prime Minister. Also, existing home sales fell 3.8% to an annualized rate of 4.81 mln in May, from a rate of 5 mln in April, better than the 4.79 mln forecasted. Adobe Systems and Jabil Circuit gained more than 3% each and led a broad advance in tech stocks ahead of those companies’ quarterly earnings reports. Oracle added 2.3% after the co. said it would acquire FatWire Software. Gartner cut its chip-sales forecast for the year, it now expects worldwide chip sales to rise 5.1% this year vs. 6.2% previously forecasted as supply chains were experiences some negative effects from the March earthquake and tsunami in Japan. In after-hours trading Adobe and Jabil drifted lower despite better-than-expected quarterly results. Implied volatility declined again on huge volumes.
Wednesday, June 22, 2011
Advanced on economic news
The market posted solid advance, as investors awaited the confidence vote for Greek Prime Minister. Also, existing home sales fell 3.8% to an annualized rate of 4.81 mln in May, from a rate of 5 mln in April, better than the 4.79 mln forecasted. Adobe Systems and Jabil Circuit gained more than 3% each and led a broad advance in tech stocks ahead of those companies’ quarterly earnings reports. Oracle added 2.3% after the co. said it would acquire FatWire Software. Gartner cut its chip-sales forecast for the year, it now expects worldwide chip sales to rise 5.1% this year vs. 6.2% previously forecasted as supply chains were experiences some negative effects from the March earthquake and tsunami in Japan. In after-hours trading Adobe and Jabil drifted lower despite better-than-expected quarterly results. Implied volatility declined again on huge volumes.
