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Real Story: Tech Check

Bob Faulkner helps break down the day's big tech earnings. Plus, Task looks ahead to Friday's GDP report.
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Tech stocks were the clear leaders Thursday, a change from recent history and possible a countertrend signal, Aaron Task says on Thursday's

Real Story podcast.

"Many investors and reporters are stuck in the late-1990s mindset, when 'tech' was all the rage," Task says. "But the reality is tech has lagged the financials, industrials, energy and other groups since the March 2003 bottom.

Major averages often don't do as well when tech is the standout, as was the case Thursday when the gains were tame relative to recent action, he notes.

That said, tech stocks were certainly the standouts on this day, and Task's guest, Bob Faulkner, author of Telecom Connection

, was on to discuss the earnings from tech bellwethers such as


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, as well as preview results due after the close from


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Faulkner also cited a less well-known name,

Cypress Semiconductor

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, as having a particularly upbeat quarter, specifically results in its programmable system-on-chip segment. "This is more than just an Apple piggyback play," he says.

Task and Faulkner also discussed the day's other big tech movers, including

F5 Networks

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Skyworks Solutions

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LSI Logic

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In the remainder of the podcast, Task reviewed the day's other corporate news, including big earnings-related moves for


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, while

Harman International


became the latest beneficiary of the LBO craze and

Brushed Engineered Materials

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fell into "the Geoff Tate zone."

Finally, Task looked ahead to Friday's advance first-quarter GDP report and discussed the potential implications for the dollar, commodities and stocks.


here to listen to the entire podcast.