I''ve had some phone conference calls this morning, so a brief post. I will flesh things out as the day progresses when I'm less tied up.
It looks like the market is on its way UP this morning. With this being an expiration Friday and with the OEX not far from plenty of call open interest at 675 there could be even great bullish bias as the day progresses through computer driven buy programs.
Google (GOOG) is among the companies spreading cheer this morning, up by $20 following stronger than expected earnings.
H&R Block to sell subprime lender unit Option One and its stock has been up 8%.
Capital One (COF) missed and its stock is down about 6%. Merrill downgraded COF to neutral from buy.
Pfizer 1st-quarter profit falls 18 pct. McDonald's profit climbs 22 percent.
Caterpillar (CAT) this morning posted earnings of $1.23 vs estimates of $1. Rev was way above estimates at 10 bln vs $8.9 bln.
JP Morgan downgraded CBRL, owner of those Cracker Barrels to Neutral from Overweight
Pete Stolcer's OneOption.com has a full list of movers this morning.
See the latest on hedge funds at: http://www.hedgefunds-weblog.com/.