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Tuesday, July 11, 2006

Most Widely Traded 48 Hour Clock: IBM Remains Lower With Other IT Names

24/7 Wall St. has begun coverage of the 36 most widely traded stocks, eighteen each from the NYSE and the NASDAQ. Most of these stocks trade over 50 million shares a week. This new feature will highlight each of the 36 stocks at least every 48 hours giving investors fresh infomation and perspective on the companies whose shares are most likely to move the broader markets.

Main Stock Tickers: IBM, HPQ, MSFT, INFY, CSC, CA, EDS, PER

This morning IBM (IBM) has remained in negative territory most of the day. Certainly a weighing tech sector led by a "large tech stock warning du jour" hasn't helped the sector. It probably didn't help yesterday that UBS trimmed estimates and Cramer giving it a bearish note during his Lightning Round of MAD MONEY yesterday wasn't a help either.

Hewlett Packard (HPQ) was also noted in the New York Times as having a lagging consulting business after having a rapid start. Oddly enough it is up on the day, but only by 0.1% at $31.97.

IBM is trading down 0.8% at $76.04. If it wasn't for the train bombings in India and if it wasn't for Bill Gates saying that Microsoft's (MSFT) Vista has an 80% chance of the planned January 2007 launch, IBM might have had a shot at being up. IBM is trading just above its 52-week lows of $75.87. Microsoft (MSFT) shares are currently down 2.3% at $22.95 on Gates' comments, about 5% above its $21.46 lows seen overthe last 52-weeks.

Tonight we will see Indian-based outsource programming and consulting behemoth Infosys (INFY) report data, and they may be able to show some insight into the consulting side of the IT sector. Computer Associates (CA) shares are down 0.8% at $19.92, Computer Sciences (CSC) are unchanged at $52.69, Electronic Data Systems (EDS) are off 0.17% at $23.62, and Perot Systems (PER) are down 1.8% at $13.73.

Jon C. Ogg
July 11, 2006
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