The Dow Jones (NYSE:DIA), S&P 500 (NYSE:SPY) and Nasdaq (NASDAQ:QQQQ) are all in the red as Goldman Sachs (NYSE:GS) earnings disappointed and semiconductors (NYSE:SMH) pulled down tech on weak earnings from Cree Inc. (NASDAQ:CREE).
Here is a group of stocks making moves on our radar and the reasons why:
1) Goldman Sachs (NYSE:GS): Boo-hoo. Goldman Sachs missed earnings expectations and lowered their employee compensation pool to $430,700 per person. Investors got slapped to as shares are down 3% after the bank/hedge fund/investment bank watched fourth quarter profits fall 52%. The controversial trading group saw revenues slip 31%. Check Out: Your Cheat Sheet to Bank Earnings for January 19th >>
2) Cree Inc. (NASDAQ:CREE): The LED and semiconductor company missed earnings and the fear is spreading like a plague through the tech sector. Clients in Asia have slowed purchases as inventories must first decline.
3) International Business Machines Corp. (NYSE:IBM): Earnings proved once again that this business is a money making machine. The stock hit record highs today and is keeping the Dow (NYSE:DIA) from falling into the well with tech. Shares are up 3.5% and approaching $156 a share.
4) American Express (NYSE:AXP): The credit card company said they will miss Wall Street earnings expectations this quarter. They also added they are firing 550 employees. The stock is selling off 3%.
Don’t Miss: Are Stocks Reaching a Near-Term Top? >>
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