Oracle acquiring Sun Micro rather than IBM
Highly acquisitive Oracle and swashbuckling CEO Larry Ellison strike definitive agreement to buy the company behind the Java operating system for $7.4 billion. The $9.50-a-share price — about what IBM had reportedly considered paying for Sun — carries 42% premium.
PepsiCo offers to acquire pair of bottlers for $6billion
PepsiCo bids to buy its bottlers. Soft-drink producer bids 17% premiums for Pepsi Bottling Group and PepsiAmericas. PepsiCo also reports slight earnings decline.
Tech stocks sink led by Oracle, Sun soars
Technology stocks staggered into the red Monday morning led by Oracle Corp. whose shares plunged more than 6% on its surprising bid for Sun Microsystems Inc. . Sun shares were up more than 35%. The Nasdaq Composite Index was down 1.8% to 1,642, while the Morgan Stanley High Tech 35 Index was off 0.5% and the Philadelphia Semiconductor Index was down 2.3%. The Dow Jones Industrial Average was down more than 120 points.
SPY Daily Outlook
5D5min Chart
Price hit the 161.8% resistance level. Upon market opens, the price gap down due to Tech stock news and profit taking.
1Y1D Chart
Price now is locating at 78.6% resistance level in Feb09. MACD shows time running out. Hence, for today's direction: downside consilidation.
AMC Analysis:
Market went downside consolidation.
No comments:
Post a Comment