Intel: April 14th, 2009
April 14, 2009 – 7:43 pmThe big news after hours today was Intel beating quarterly consensus earnings estimates. The peculiar thing about this, is that shares are actually trading five percent lower after hours. Funny huh? The world’s largest chip maker comes out and issues the bottom in the tech sector may be in while beating earnings, yet shares are down after hours?
In my honest opinion, this is just a knee jerk reaction (monkey business you might say). Personally, I would expect markets to open higher in the morning, barring some dreadful news out of europe/asia or some of caustic developments overnight stateside. It just doesn’t make sense.
I will try to post a few charts tonight but my bread and butter charting software still isn’t working. I will just have to use the alternate version :/