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Apple Joins Others Behind the Woodshed


Garmin (GRMN) ($35.14) missed EPS estimates by eight cents a share, earning 66 cents back on Feb. 20, reporting that revenue on auto/mobile products fell 25%. The stock plunged from a close of $39.24 on Feb. 19 to a low of $34.31 on Feb. 26. The stock is rated a hold with a negative weekly chart profile, the five-week MMA at $37.74 and the 200-week SMA at $34.82. My weekly value level is $33.22 with a monthly risky level at $38.37.

JCPenney (JCP) ($17.69) missed EPS estimates by a mammoth $1.74, reporting a loss of $1.95. The stock fell from $21.16 at the close on Feb. 27 to a low of $16.57 on Feb. 28. The stock is rated a hold with a negative weekly chart profile and the five-week MMA at $19.67. The Nov. 16 low is $15.69 with a semiannual pivot at $17.38 and monthly risky level at $18.91.

McDermott International (MDR) ($10.70) beat EPS estimates by three cents a share, earning 26 cents on Feb. 28, but the builder of offshore drilling platforms warned of delays and projected losses. The stock fell from a close of $12.72 on Feb. 28 to a low of $10.61 on March 1. The stock is rated a hold with a negative weekly chart profile, the five-week MMA at $12.05 and the 200-week SMA at $13.89. My quarterly value level is $7.24 with a monthly pivot at $12.17 and weekly risky level at $12.54.

Verifone Systems (PAY) ($19.05) reports quarterly results this week on March 5, with an expected EPS of 37 cents a share. Back on Feb. 20 with the stock closing at $31.89, allegations that the company violated federal securities laws caused a gap lower open on Feb. 21 to a low of $17.93. The stock is rated a buy with a negative weekly chart profile, the five-week MMA at $27.96 and the 200-week SMA at $30.81. The May 2010 low is $15.62 with this month's risky level is $24.97.

At the time of publication the author had no position in any of the stocks mentioned.

This article was written by an independent contributor, separate from TheStreet's regular news coverage.

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