Lam Research Corporation (NMS: LRCX)

Lam Research Corp has come under selling pressure that last two days with analysts downgrading the company after disappointing 2nd quarter results and poor guidance for the 3rd quarter from the semiconductor processing equipment maker. Analysts were already expecting weakness with sales growth for the year in the negative 50% area. Earnings are expected to tumble 100% compared last year's results.

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By Steve Patterson

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Barclays (NYSE: BCS) Jumps after Recent 50% Fall

Investor's were looking for writedowns on bad assets and Barclays PLC (NYSE: BCS) gave them what they were looking for. And investor's bought the shares in abundance today running them higher 61%. The shares had fallen near 50% in the past 10 days on fears that losses would widen and a government takeover as eminent. What really shocked everyone was the amount of profit the bank is looking to report even after massive writedowns of $11.3 billion. The bank now feels it will earn $7.3 billion for the year.

Stocks Collapse Post Inauguration

What started out as a mildly weak day turned very much more negative after the Inauguration completed shortly after lunch. Stocks steadily declined all afternoon finishing sharply lower, 4% for the Dow Jones Industrials, near 6% for the Nasdaq, and 5.25% for the S&P 500. Financial's were the weakest of all the industries with questions about Citigroup and Bank of America still creating weakness across the board.

With new jobless claims continuing to disappoint and the financial stocks suffering with earnings in the forefront, Bank of America (NYSE: BAC) slid 18% today as investors and managers looked for answers. Managers of the bank said they were surprised to find heavy losses at Merrill Lynch & Co as they prepared to finalize a merger with the troubled investment bank.

Advanced Medical Optics (EYE) Purchase Might Create an Abbott (ABT) Buying Opportunity

Reports came out this morning that Abbott Laboratories was purchasing Advanced Medical Optics for $2.8 Billion or $22 a share in cash and assumed debt. Advanced Medical Optics is a California based eye-care device maker with revenues of $1.2 Billion a year and earnings per share of 38 cents. Best known for it's Laser Eye technologies, the company's stock price has declined near 56% over the past 52 week. The purchase price represents more than a doubling of the previous trading day's price.

You wouldn't know it from the news or from the action of the stock market today as continued negative economic data has caused a slight sell off in the markets. But the Nasdaq Compositve, the DOW Jones Industrials, the Russell 2000, and the Standard & Poors 500 have all given buy signals in recent days with their 13 day moving averages crossing their 50 day moving averages.