Overall the earnings seem to be coming in a little better than expected, but the news has been the lackluster going-forward look in high-profile names in tech and finance.
More Quotes from Barry Hyman:
It's a great business model that's being developed here.Barry Hyman
A worse-than-expected number tomorrow will discount what happened this week. If we get an inflationary number, the market will go down, but I think it all clears up by mid-June.
Barry Hyman
The dreaded whisper number -- that's Wall Street for you. This is day-to-day noise. Normal profit taking in the technology area can be considered to be 20 percent to 30 percent moves.
Barry Hyman
I think, ... that Pfizer is going to benefit from their merger with Warner-Lambert. I think that makes a very good deal. But most pharmaceutical companies do eventually strike deals with biotech companies in terms of marketing their product. And the genomic companies don't have a lot of cash. They have a lot of high valuations, but they don't have a lot of dollars to spend. So, they usually look toward the pharmaceutical sector to help them out, which usually helps both sectors.
Barry Hyman
There's no (economic) stabilization yet, but it now brings the possibility of continued aggressive Fed moves. We're four cuts deep into an interest rate cycle and we're going to get a fifth. That's going to help the economy down the road -- it's not a question of 'Will it' but it's a question of when.
Barry Hyman
It's a transition market. I think (last week) indicated the willingness to look forward at the upside of the story. There isn't a lone voice expressing positive attitudes toward technology but this week indicated the ability of the market to look forward.
Barry Hyman
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