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Chart of the Day for WEDNESDAY 11-17-04
NTAP:
Tuesday, the stock traded down to closed at ($25.02) off (-.44c). Last night
after the close the Co reported their Q2 (Oct) earnings of $0.16 per share,
$0.02 better than the consensus of $0.14; revenues rose 36.1% year/year to
$375.2 mln vs the $376.7 mln consensus. Co guides Q3 $0.15-0.
After-hours activity;
MOM research Admins took notice of some activity in the stock, where the stock
had a hard pulled back just before the Co earnings posting to a supportive base
area of $23.50 and a long trigger was alerted, then multiple muscle players
started buying-up the stock right after that drop on volume. The stock then
started to trended up where first call players got the news before it hit the DJ
news wire forcing the stock moved to the upside. The stock then popped to $24.50
right after the news post, the stock continued running into CC to $27.00+ area
with little pulled backs then retraced to set new highs of $27.75. The stock
then drifted slightly back again to finished the post market session at $27.61.
Let take a technical look at the numbers for today's trading.
Above $27.80 with conformation @ $27.95 the stock can make an upside move to
$28.24, $28.50, then $28.75, providing the futures are moving to the upside from
the pre-market open at 8:00 am ET into the 9:30 market open. If so other upside
numbers are $28.98 then $28.50 with conformation at $$$$ the stock can run to
$$$$ then $$$$.
Look for a short trigger at $27.50 with conformation at $27.25 the stock can
slide to see $26.98, $26.49, $25.95 then $$$$ and $$$$
(For more LIVE blow by blow commentary and numbers on this stock and others,
with Admins coaching you through trades click and join the -> (
platinum forum )~{support what you believe in at MOM}. Lets sum up the
call, NTAP says the top drivers of its growth were demand for data protection
solutions, strong windows business and customer's movement away from direct
attach storage. Company said that the geographical mix was similar to last
quarter, but the sales mix was different - 55% of the business came from
indirect sales, due largely to an increase in its Japanese business. The Co says
it sees Q3 (Jan) sequential revenue growth of 7-9% (or 35-38% year/year) to
$401.5-409.0 mln (consensus of $395.6 mln). Company also raised its FY05 (Apr)
revenue growth goal to 35-37%.
Look for upgrades this morning and into the open. Also, look for upside on good
earnings from last night for HPQ. The the box makers, semi and printer stocks
should move in reaction.
Stocks that where moving up on the heels of strong results from HPQ and NTAP
include: BRCD +4.3%, BRCM +1.5%, MCDTA +1.5%, PMCS +1.5%, ELX +1.4%, EMC +1.5%,
SANM +1.1%, AMAT +1.0%, IBM and more.
Keep in mind, its a BIG Eco day, for Wednesday, November 17, 2004,
At 8:30 EST,
Consumer Price Index.
Consensus are 0.4%
&
0.2% for the core.
This is a market moving event. At
8:30 EST, Housing Starts.
Consensus are 1960K,
This is a market moving event.
Housing
Starts measure the number of residential units on which construction is begun
each month. Two words...Ripple Effect.
At 9:15 EST,
Industrial Production. &
Capacity Utilization, Consensus are 0.4% & 77.4%,
This is a market moving event.
Globex futures have been trending to the
upside
across the board from 1:00 am ET.
NTAP:
(http://www.netapp.com)
Network Appliance, Inc. provides enterprise network storage and data management
solutions. Its system products consist of fabric-attached storage appliances,
also known as filers, NearStore systems, NetCache content delivery appliances,
the Data ONTAP operating system, Write Anywhere File Layout (WAFL) file
management system, data management and content delivery software and NetApp
Global Services. The Company also sells appliance- and server-based software and
develops software support for a number of industry-standard protocols. The
NetCache product line includes support for proxy and caching of standard Web
protocols, including domain name service, file transfer protocol and hypertext
transfer protocol. Under Netapp Global Services, options include Global Advisor
and Global Advisor Plus, and System Availability Management and System
Availability Management Plus.
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