For earnings reports, visit our earnings calendar and reported earnings . For after hours quotes and news, visit our after hours trading site. The company expects to reach profitability next year and reported a strong cash position. Earnings warnings continued to mount. However, we believe the market is making an impressive attempt to put in a bottom here.
Volume is extremely high today, aided somewhat by options expiration, but still a positive.
With so many firms reporting a significant slowdown, hopefully the Federal Reserve will take notice. Microsoft probably has the strongest business model of the New Economy giants, similar to a drug company. If Microsoft warns, the economy is not headed for a soft landing. The Dow broke out of a bear flag this morning, with downside potential to 10,450, which it reached. We will set critical support at 10,300 on the index.