Stocks posted modest gains in response to news that Greece has appointed a new finance minister and that German and French officials support quick implementation of plans to address the country’s fiscal woes. Meanwhile, sharp drop in Research In Motion, which lost almost 21.5% after disappointing earnings and slashed forecast, dragged the Nasdaq to a modest loss. RIM’s results also hit some smaller chipmakers. Gains came from Oracle, IBM and Amazon. Reports from Adobe, FedEx, Bed Bath & Beyond, Oracle and Micron and concerns about possible negative earnings pre-announcements from other companies are in focus in the coming week. Investors are searching for any signs of more stability after a rough few months. Implied volatility inched higher on huge trading volumes.
Monday, June 20, 2011
Earnings in focus
Stocks posted modest gains in response to news that Greece has appointed a new finance minister and that German and French officials support quick implementation of plans to address the country’s fiscal woes. Meanwhile, sharp drop in Research In Motion, which lost almost 21.5% after disappointing earnings and slashed forecast, dragged the Nasdaq to a modest loss. RIM’s results also hit some smaller chipmakers. Gains came from Oracle, IBM and Amazon. Reports from Adobe, FedEx, Bed Bath & Beyond, Oracle and Micron and concerns about possible negative earnings pre-announcements from other companies are in focus in the coming week. Investors are searching for any signs of more stability after a rough few months. Implied volatility inched higher on huge trading volumes.
