Stocks look set to rise this morning, as investors worry less about inflation and the dollar (at least for now) and focus instead on comments from Dell Computer, which reported earnings last night.
Dell shocked investors last week when it said it wouldn't meet previous sales and earnings targets mainly because of pricing errors. That set off fears of crippling price wars in the computer industry. But last night Dell (which reported an 11% drop in earnings from a year ago) didn't emphasize price cuts in its plan for bouncing back, but rather said it would start using chips from Advanced Micro Devices (AMD) instead of Intel (INTC).
Appearing on CNBC this morning, Tony Sacconaghi of Sanford C. Bernstein is bullish on Dell's stock and has a price target of $36 a share.
Here's a look at some key Blogging Stocks this morning:
Apple (AAPL) shares are up 42 cents to $63.60 as of 8 a.m. It's earning lots of praise for its new Manhattan store.
General Electric (GE) shares were flat with its prior close of $34.15 when last traded last night. GE Energy expects to win two new contracts to build nuclear reactors in the U.S.
Time Warner (TWX) shares were up 1 cent to $17.41 after the close last night. AOL buys LighteningCast.
Wal-Mart (WMT) shares were down 2 cents to $47.20 in after hours trading last night. It faces critics in Merced, Calif. over its plans to build a 1.2 million square foot distribution center in that city.
Chasing Value: 43% Gain to Build a Position in KB Homes
Closing Bell: St. Patrick's Day Hat Tricks (GE, FUQI, SNV, HIG, BBI, PLCM, ERC, MEE)
Everyone's Talking About GE
