WASHINGTON, Oct. 13, 2009 (GLOBE NEWSWIRE) -- Today the market is a bit weaker ahead of earnings announcements on companies like GE, Goldman Sachs, IBM and Intel. We are following several compelling stories this week with some large earnings reports looming. Explicit Picks tracks and follows stocks market wide, however our primary focus is on small and micro cap stocks that we feel are poised for substantial movement. To receive our reports FREE of charge, investors simply need to visit us at: http://www.explicitpicks.com
General Electric remains one of the most followed bellwether stocks in the market. Recent announcements of its latest testing of the "Small Grid," will certainly have investors attention. General Electric is predicting to cut down peak electricity consumption by 15% in 2012. With fellow competitors like Phillips reporting better than expected earnings for the third quarter, we are watching closely to see if GE to follows suit.
Analyst Meredith Whitney gave some investors the jitters today after downgrading Goldman Sachs to "neutral" from "buy" citing valuations. Although she stated that her outlook on the company remained bullish, her comments were still enough push the stock down on the day.
Investors will be watching today to see if IBM and Intel benefit from a weaker dollar due to substantial overseas revenue. IBM is expected to post earnings of $2.38 per share on revenue of roughly $23.38 billion, while Intel is forecast to earn .27 cents a share on roughly $9.015 billion of revenue, according to Thomson Reuters I/B/E/S data. While PC sales are down, and unemployment is up, Intel has just hit a 52 week high. As the world's largest semiconductor company, their reports, (expected at close of market today) could set the tone for not only tech, but possibly the broader market.
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