Today's Issue

Despite the loud clamor of earnings warnings, stocks were up across the board today as investors and analysts wondered if a bottom had been reached. The Dow Jones industrial average closed up 138.38 to 10,729.60; the Nasdaq composite rose 19.47 to 2,223.90 and the Standard & Poor's 500 ended up 8.09 to 1,261.89.

It was a strange day for the markets as investors shrugged off bad news and bought in a manner eerliy similar to recent months where good news was  ignored and sold into. The Nasdaq is now up 5 percent since last Friday, withstanding a number of large technology companies warning about poor earnings. 
 

Breaking News

We held the publishing of this newsletter until later than expected as we know that an enormous amount of our database are Yahoo users and investors and the stock, as most of you know, was halted around 10:00 a.m est. pending a company announcement.

Just a few moments ago The Financial Times announced that Yahoo CEO Tim Koogle will step down and warn of lackluster quarterly earnings. Yahoo confirmed this report atfter the market's close, making for what will undoubtedly be an interesting Thursday morning for the stock. Today, the stock traded off $1.44 before it was halted. 

Conversely, Quintek (OTCBB: QTEK) announced 2nd Quarter financial results with a revenue increase of 57% and a profit increase of 100%. Quintek also announced their client roster in the release which includes Imation,  TRW, Lockheed-Martin, U.S. Navy, Boeing, and a multitude of others also noted in the release.
Click here to read the full release: http://biz.yahoo.com/bw/010307/0520.html
 

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