AllThingsD » Nasdaq Composite

One Tech Stock Outlook

Dave Kansas — Wed, 15 Apr 2009 18:27:53 +0000

Intel (INTC) reported stronger-than-expected earnings and said that it believed the slumping computer sales market had “bottomed out.” Wall Street’s response: Sell ‘em.

The chip giant’s shares are off four percent, dragging on the Nasdaq Composite and raising some questions about the tech sector generally. This bout of pessimism is probably a bit overdone and reflects more what’s happened in the past few months than what happened yesterday.

Tech shares have been on a strong run, with the S&P 500 information technology group up 15 percent in the last month alone. That’s a pretty quick sprint, and Intel’s merely decent news wasn’t enough to sustain it.

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Everybody Gets Back in the Boat: Nasdaq Jumps 6.5 Percent

Eric Savitz — Fri, 14 Nov 2008 00:41:11 +0000

Well, I for one never know what to make of a day like this one, with the market jumping back and forth over the flat line before staging one of those crazy end of the day runs that have become so much a part of the current market pattern. The Nasdaq Composite finished at the high for the day, up 97.49, or 6.5 percent, to 1596.70, and 168 points above the day’s low. The other major indexes had similar gains, with the Dow up 552 points, or 6.7 percent, to 8835, or 900 points above the low for the day, after briefly dropping below the 8000 level.

It sure is tempting to think that we’ve set a sustainable bottom; but what it really feels like is yet another unsustainable bear market rally. I will note that it seems encouraging that investors opted to more or less ignore the bearish earnings news yesterday from Intel (INTC), Best Buy (BBY), National Semi (NSM) and others, and focus instead on hunting for bargains. But I would also note that, as Bernstein Research pointed out earlier today, earnings estimates for many tech company are likely still too high, and due for further cuts in the weeks and months ahead.

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Nasdaq Manages an Up Day; Bottom-Fishing in Evidence

Eric Savitz — Fri, 10 Oct 2008 23:32:45 +0000

While it was another down day for the Dow Jones Industrial Average, the Nasdaq Composite actually broke a string of seven down days and posted a modest gain: The index rose 4.39, or 0.3 percent, to 1,649.51. The index nonetheless finished the horrific week with a loss of nearly 298 points, or 15.3 percent. At one point today, the index touched as low as 1542.45, stretching the loss for the week to just over 400 points, or nearly 21 percent. Astonishing.

One interesting development in today’s whipsaw session was the emergence of what appears to be some selective bottom-fishing. Apple (AAPL) was the most obvious example; the stock rebounded $8.06, or 9.1 percent, to $96.80, aided by some bullish comments from Oppenheimer as well as anticipation of the company’s pending launch of new laptops at an event on Tuesday.

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Nasdaq: How Low Can It Go?

Eric Savitz — Tue, 07 Oct 2008 22:16:19 +0000

OK, now I’m getting worried.

The Nasdaq Composite today got clobbered yet again, for all the usual reasons: investors are still freaked out about the financial crisis, have little faith that the congressional bailout package will accomplish anything, and now await the start of what will undoubtedly be a miserable third quarter earnings season.

The Nasdaq today fell 108.08 points, or 5.8 percent, to 1754.88. That was the 65th worst day ever for the index in terms of points; the 22nd worse on a percentage basis.

The index is now down 15.7 percent in the last five days, 19.6 percent in seven days, 23.5 percent since the end of June and 33.8 percent for the year to date. The index today closed at the lowest level since August 2004.

In fact, the index is now one lousy point above where it closed on March 6, 1998.

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Nasdaq Plunges 199–or 9 Percent–Among Worst Days Ever

Eric Savitz — Mon, 29 Sep 2008 23:37:37 +0000

The Nasdaq Composite today plunged 199.61, or 9.14 percent, to 1983.73, as investors fled equities amid a growing sense of crisis in the financial sector. Stocks started off sharply lower this morning; the slide accelerated after the House rejected a proposed $700 billion buyout of the financial sector.

The Nasdaq’s slide is the eighth largest ever in terms of points, and the third biggest ever on a percentage basis. The index has been tracked since 1971.

The only two days which were worse on a percentage basis include the 11.4 percent slide by the index on Black Monday, Oct. 19, 1987, and the 9.7 percent drop on April 14, 2000.

While selling was widespread, the tech-heavy Nasdaq Composite suffered the worst decline today of the major indexes. The Dow Jones Industrial Average fell 748 points, or 6.7 percent, to 10,394.92, the worst day ever for the index in terms of points. The S&P 500 dropped 102.7 points, or 8.5 percent, to 1,110.27.

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Nasdaq Jumps 100.25, or 4.8 Percent; Best Point Gain in 6 Years

Eric Savitz — Thu, 18 Sep 2008 22:05:54 +0000

After the worst day for the Nasdaq Composite in seven years, the index today turned around and posted a gain that was equally stunning, as the Street became hopeful that the financial crisis is nearing a turning point.

The Nasdaq Composite today gained 100.25 points, or 4.78 percent. That was the Nasdaq’s fattest one-day gain in terms of points since May 8, 2002. On a percentage basis, it was the best day for the index since March 13, 2003. There have been 56 days since the index debuted in 1971 with larger points gains; there have been 37 days with bigger percentage gains.

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