Morning Rage 9.25.2012

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The tech industry was hit hard yesterday as most of the major players ended down except for Google ($GOOG). Google reach a new all -ime high yesterday of 750.04 and traded in a $20 range. Google ended yesterday up about $15 and continued to surge up another $3.25 after hours making another new all-time high of 752.63.  Other tech stocks didn’t perform as well, Microsoft ($MSFT), Apple ($AAPL), Intel ($INTC), and HP ($HPQ) were all down more than one percent. Apple fans may have to wait for iPhone 5 resupplies around the world because the new front glass component production cannot keep up with demand for the phone.

On the topic of tech stocks, Red Hat ($RHT) released its Q2 earnings, which missed analysts projections causing the stock to tumble an extra $1.74, or 3%, on top of its $0.10 drop yesterday. Red Hat’s earnings projections were lower than Q1 but were still missed by a penny. The fine print reads that the penny lost was due to one-time closing costs.

Two housing reports will be released today, the S&P Case-Shiller HPI and the FHFA House Price Index. The Case-Shiller report tracks housing price changes throughout 20 major US cities and the FHFA report uses data from mortgages to track pricing. With housing news consistently positive in the past few weeks, I would expect more of the same today.