Opening Bell Trading Targets: Cisco, Sirius XM, Apple

Cisco (NASDAQ:CSCO) earnings were released yesterday after the bell. Looks like today will be a mini crash. Shares are already down ~8%.

Net income for the computer networks company rose to $2.17 billion (40 cents per share) vs. $1.81 billion (33 cents per share) in the same quarter a year earlier. This marks a rise of 19.8% from the year-earlier quarter. But that was clearly not good enough.

The stock in a meaningful short-term downtrend. There’s a lot of volume to work off in the $17-$19 range. Look for a base of support to develop. If not, it could get scary for CSCO shares.

Sirius XM (NASDAQ:SIRI) is watching Liberty Media gobble up shares in a big way. Liberty Media upped its stake in SIRI to 45.2% from 40%.

The question now is whether SIRI can finally break out above their 52-week high of $2.44.

Apple (NASDAQ:AAPL) has a headline driving attention this morning. The company will work more closely with Foxconn to share costs to improve labor conditions at production facilities. The move should help repair any damage done to the brand.

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Apple’s stock has support at the $560-$565 range. Note whether volume in the rally from that base is significant.

Happy trading!