The RealMoney contributors are in the business of trading and investing all day on the basis of ongoing news flow. Below, we offer the top five ideas that RealMoney contributors posted today and how they played those ideas.TheStreet.com brings you the news all day, and with RealMoney's "Columnist Conversation," you can see how the pros are playing it on a real-time basis. Here are the top five ideas played today. To see all that RealMoney offers, click here for a free trial.
1. Chipotle Mexican Grill
11:41 A.M. EDT
2. Patience Is Being Rewarded
10:27 A.M. EDT So far, the plan to let the open guide us is keeping me from pulling the trigger. That said, traders should use today's highs in the UltraShort Real Estate ProShares ( SRS), the UltraShort Financials ProShares ( SKF), the Direxion Financial Bear 3X Shares ( FAZ) and UltraShort FTSE Xinhua/China 25 ProShares ( FXP) as an area to watch as we go through the rest of the trading day. I am still concerned about having a short bias into today's close with Apple ( AAPL) and Qualcomm ( QCOM) earnings on deck. A break of Friday's lows in the SRS, SKF, FAZ and FXP would be the signal to cut your losses. No positions.
3. AT&T Looks Solid
8:47 A.M. EDT AT&T ( T) looks pretty good to me from a quick read of the press release. EPS of 53 cents beat the 48-cent estimate. With the caveats that it was a quick read and that AT&T is complex, nothing jumped out at me suggesting the number was juiced by lots of one-time issues.
4. Gilead Wins, Genentech Shareholders Win, Roche (and Avastin) Lose
Adam Feuerstein 8:45 A.M. EDT I see that Justin Ferayorni gave his thumbs up to Gilead Sciences' ( GILD) first-quarter report last night, so let me add my thumbs in the same upright position. I'll have more detail in a column posting later this morning, but for now, let's just say that all that pre-earnings concern (even panic) about Gilead falling short was for naught. I'm as bullish as ever on Gilead and quite happy to see that the most defensive of biotech stocks in this still-gloomy economy remains that way. In other news, Genentech (now owned by Roche) announced this morning that treatment with its key drug Avastin did not prevent the recurrence of cancer following surgery in early-stage colon cancer patients. The negative results from the so-called adjuvant Avastin colon cancer trial is a setback for Roche, which spent $47 billion to acquire Genentech in part to gain full rights to Avastin. Hey Genentech shareholders, aren't you glad you agreed to sell your shares to Roche for $95 now? Long Gilead.
5. Flipping the Switch at Packaging Corp.
7:37 A.M. EDT I too listened to the Packaging Corp. ( PKG) chairman's remarks on April orders that Jim "El Capitan" Cramer mentioned this morning. The company said that the last two days of March and the first 10 days of April saw a surge in bookings -- up about 15% from March's run rate. He went on to state that "someone flicked a switch on." Stay tuned. No positions. For a free trial to Real Money, where you can get updated trading and investment ideas throughout the course of the day, please click on the tile below.