Market Recap: Cars and Bikes

 [youtube=http://www.youtube.com/watch?v=Z19zFlPah-o]

The Reformed Broker, AKA The Mongoose Californian, here with today’s Market Recap

Does anyone or anything suck as much as General Motors (GM)?  Even Ford (F), up 10% plus today, seems to be picking itself up off the mat these days, although the Goldman Sachs Conviction Buy List kudos probably didn’t hurt.

On a day where GM’s CFO raised the possibility of the Big BK, there were some pockets of strength out there.  Here’s the 3 o’ clock look at the Semi/ Memory Chip names, which followed Sandisk (SNDK) higher from the open:

Industry Top Performers
Intraday Price Performance% ChangeMarket Cap
SanDisk Corporation [SNDK]+14.51% $3.1 B
MICRON TECHNOLOGY [MU]+8.94% $3.7 B
Rambus, Inc. [RMBS]+5.11% $1.0 B

Tonight is all about Apple Corp (AAPL), everyone’s favorite tech stock.  The company reports earnings after the close today and the expectations are fairly low going into the report (my new friends at Clusterstock are gonna cover it live).  The Street is looking for $1.09 per share and its worth noting that AT&T (T) reported strong numbers for the iPhone in their report this morning.

The above video* features a bmx athlete named Danny MacAskill who literally pushed the limits of what people thought was possible to do with a bike when this video first surfaced last week.  Can Apple push the limits and say something good about consumer spending?  Guess we’ll find out shortly!

**Update: They liked Apple, stock ticking higher 3 points or so after the close.

* The song used in this video is The Funeral by Band of Horses, off one of my favorite albums of 2006.  If you don’t know B of H, get thee to the iTunes Store stat!

In case you missed it, read my latest post on Clusterstock from this afternoon:  We Are All Flint, Michigan Now

Full Disclosure:  I currently manage accounts that trade GM, F and AAPL.  My commentary above should not be construed as an invitation to buy or sell securities, see my terms & conditions page for a full disclaimer.