Technology Investing: Google on Deck, Netflix Taking Heat
Tech (NASDAQ:QQQ) underperformed today on some weak news. Here’s your Cheat Sheet to top business developments at the most widely traded technology companies:
1) Google (NASDAQ:GOOG) was down 0.14% after an Excel jockey at Oppenheimer said margins will shrink on increasing costs under new CEO Larry Page. Google announces earnings on Thursday after the bell. Stay tuned for our live coverage.
2) Apple (NASDAQ:AAPL) has made lower highs since February. The stock was down 1.27% today as Wall Street is still debating whether the disaster in Japan (NYSE:EWJ) will cause significant supply chain issues.
3) Netflix (NASDAQ:NFLX) dropped 2.85% as investors continued digesting Dish’s (NASDAQ:DISH) purchase of Blockbuster and Level 3’s (NASDAQ:LVLT) purchase of Global Crossing (NASDAQ:GLBC). Netflix shares are either in a healthy consolidation or making a significant double-top.
4) IBM (NYSE:IBM) caught a downgrade from Canaccord Genuity IBM. The firm opines IBM is now a “Hold”.
Beyond technology, here are Other Stocks Attracting Heavy Investing and Trading Demand today.