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Zacks #1 Stocks on the Move 05/23/2013

Company Name Symbol %Change
WESTELL TECH WSTL
6.67%
STEIN MART I SMRT
5.38%
ALLIANCE FIB AFOP
5.21%
DAWSON GEOPH DWSN
4.33%
MARRIOTT VAC VAC
3.27%
Zacks ZACKS.COM
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Tough Day for Tech

After a big party there is usually a nasty hangover. So after the raucous 3% rally of Tuesday we got a sobering 1% decline early Wednesday. The key catalyst was the poor earnings announcement from Oracle. This follows on the heels of some other big tech names reporting weak business conditions (HP, Intel, Texas Instruments and more).

Add it all up and you can appreciate why some are concerned about a slowdown in tech spending. And why many of the big tech names were down heavily today. And why some are concerned about what this means for the global economy as a whole.

Yet as the day progressed the dark clouds lifted with both S&P and Dow actually ending in green. And that is quite typical for holiday weeks such as this.

Like I said yesterday; "I think that stocks will continue to drift higher through years end. And the less bad news coming from Europe only adds more fuel to that fire." So far, so good on that front.

Featured Commentaries on Zacks.com
•  Your Next Stock Should Be Making New Highs
•  Oracle = Bad Omen for Tech?
•  Value Stock Picks-Dec. 21, 2011

Best,

Steve Reitmeister
Executive VP, Zacks Investment Research

 

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Today's Top Stories: Thursday- December 22, 2011

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Steve Reitmeister
Executive VP, Zacks Investment Research

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