Tuesday, July 21, 2009

Early Action

AlphaNinja - Markets have given up their gains -->> Nasdaq and SP500 are negative, and the DJIA is flat after opening up enthusiastically on several earnings beats.

Notable winners are JDA Software with a great quarter, Human Genome continuing its huge run, and Caterpillar on a well-received earnings report. The CAT conference call is ongoing, and one thing I'd note is the CEO's comment:
"we underproduced worldwide demand"
-->> That's likely why the company's margins came in so well on lower sales, but the CEO was understandably standoffish when asked about margins for the rest of the year. As CAT ramps up inventory, pricing will fall back.

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