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Volatility Sparking as Investors React to News

Oracle (ORCL - Get Report) ($33.21) reported disappointing quarterly results after the close on Thursday, but also announced that they will raise its dividend by 100%, and will implement a $12 billion share buyback program. The company will also shift its listing to the NYSE from the Nasdaq. The stock ended Thursday just above its 200-day SMA at $33.13, but opened below my annual value level, now a pivot at $30.81. The stock has recently been downgraded to hold from buy according to ValuEngine with a quarterly value level at $27.81, an annual pivot at $30.81, a semiannual pivot at $31.89 and annual risky level at $34.68.

Teva Pharmaceutical (TEVA - Get Report) ($38.88) received FDA approval for its Plan B One-Step for use without prescription. The stock ended Thursday just below its 50-day and 200-day SMAs at $38.92 and $39.29, and was little changed at today's open. The stock has had a buy rating according to ValuEngine for more than a year. My monthly value level is $35.89 with a weekly risky level at $40.18.

At the time of publication the author held no positions in any of the stocks mentioned.

This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.
Richard Suttmeier has an engineering degree from Georgia Tech and a master of science from Brooklyn Poly. He began his career in the financial services industry in 1972 trading U.S. Treasury securities in the primary dealer community. In 1981 he formed the Government Bond Department at LF Rothschild and helped establish that firm as a primary dealer in 1986. Richard began writing market research in 1984 and held positions as market strategist at firms such as Smith Barney, William R Hough, Joseph Stevens, and Rightside Advisors. He joined www.ValuEngine.com in 2008 producing newsletters covering the U.S. capital markets, and a universe of more than 7,000 stocks. Richard employs a "buy and trade" investment strategy and can be reached at RSuttmeier@Gmail.com.
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SYM TRADE IT LAST %CHG
ADM $48.64 0.01%
GE $26.77 0.41%
MDT $73.82 -0.35%
ORCL $40.36 0.30%
TEVA $61.56 1.00%

Markets

DOW 17,730.11 -27.80 -0.16%
S&P 500 2,076.78 -0.64 -0.03%
NASDAQ 5,009.2140 -3.9090 -0.08%

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