Can't Keep 'Em Down

 | Nov 15, 2013 | 1:52 PM EST  | Comments
  • Comment
  • Print Print
  • Print
Stock quotes in this article:

cmi

,

lnkd

They go down but they just don't stay down -- and it just keeps happening.

Not long ago we got a disappointing forecast from Qualcomm (QCOM) and the stock got hammered. I said don't worry, the analysts would be right back pushing it because they can't resist. The stock's now up from that forecast.

Or how about Yelp (YELP)? Remember when it did that underwriting at $67 and then got hammered mercilessly down to $61? Guess what? It's now at $69.

Or Union Pacific (UNP), which his now above where the company cut its forecast, reminding us that it isn't just tech that floats back up.

And don't forget McDonald's (MCD) It rallied two points above where it reported a lamented quarter, and it's still up nicely despite the miserable publicity it received today telling us that even the execs know that service is no longer up to snuff.

Which brings me to two more names that I believe will soon go back above levels common wisdom says they can't surpass: Cummins (CMI) and LinkedIn (LNKD). Yes, Cummins missed, but it has the cleaner-burning engines the world needs -- and counting out China is a huge mistake.

LinkedIn was widely criticized as being extremely disappointing, both in its earnings and its guidance. But that was ages ago and people don't even care anymore. They regard it as a buying opportunity as it goes higher, and they won't want to miss it.

This market is like all bull markets. Unless a company has totally and completely screwed up like Cisco (CSCO) did, the decline is a chance to get in. Or if you feel like you've been burned, it's a chance to get out at a higher level. So consider LinkedIn and Cummins, which have a real good feel about them and seem to want to head higher.

Random Musings: This Zulily (ZU) is absurd. It shouldn't be up this much but online e-commerce plays are hard to come by and that shortage is producing this ridiculous move. Remember, everyone has the right to overpay!

Columnist Conversations

Lang:
Yesterday presented us with a great opportunity to take some profits into a nice market rally. This is what w...
Lang:
The professor from the Wharton School is often criticized for his market timing calls. But, give him credit -...
Lang:
Some will consider the release of the FOMC minutes today or the comments forthcoming from the Jackson Hole KC ...
I think the jump in sterling this morning is temporary. Yes, the Bank of England's minutes showed two members ...

BEST IDEAS

REAL MONEY'S BEST IDEAS

Columnist Tweets

BROKERAGE PARTNERS

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data provided by Interactive Data. Company fundamental data provided by Morningstar. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by Interactive Data Managed Solutions.


TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

IDC calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.