Wachovia analysts also said it expects more cost cuts in the job hunting industry, which could cause further price pressures on services like Monster's. Monster shares fell 25 cents or 2% in morning trading Tuesday.
Shares of Monster are nearly 50% off 52-week highs of $24 a share. The stock has technical support in the $8 to $9 price area. If the stock can rebound off of today's downgrade, we see overhead resistance around the $12 to $15 price levels. We do not currently rate this non-dividend paying at this time, but we do follow the company closely.
The iPhone is feeding earnings growth that the market is missing," said Huberty in a research note, noting that she believes Apple is becoming "the clear leader in the battle over the mobile Internet." Huberty said that the expected price cut coming in the fall for Apple's iPhone should spur demand for the unit, which has quickly grown from an expensive, niche-based mobile device to a clear leader in the mobile phone industry. Apple shares rose $4.58 or 3.7% in Tuesday morning trading following the upgrade. Shares of Apple are off the 52-week high levels of $190 per share. The stock has technical support in the $111 to $120 price area. If the shares can build on today's upgrade, we see overhead resistance around the $132 to $140 price levels. We do not currently rate this non-dividend paying stock, but we do follow it very closely. Be sure to visit our complete recommended list of the Best Dividend Stocks as well as a detailed explanation of our ratings system.