On Friday, the markets surged higher following reports that Warren Buffett purchased 75 million shares of Actions Alerts PLUS holding Apple (AAPL) , which then led the technology sector up. The April jobs report was below expectations but the unemployment rate fell to 3.9%. The U.S. and China concluded their trade talks.
Here are three top takes from the columnists of Real Money and Real Money Pro, our premium sites for Wall Street professionals and active investors:
Jim Cramer: Watch Skyworks Stock, It Is the Key to This Market
TheStreet’s Jim Cramer writes that “the stock to watch, the key to this market is Skyworks (SWKS) . If the stock moves up it means there can be a semi that isn’t brought low by Apple and the Chinese trade talks – either or both.”
“If Skyworks rallies and keeps the rally going it is a powerful signal that tech’s OK,” Cramer says.
Buffett’s Apple Move Doesn’t Do Much to Shift the Negative Technical Pattern
“The announcement that Warren Buffett has increased his stake in Apple by 45% is doing more for this market than Apple’s earnings report on Tuesday night,” says Real Money columnist James DePorre. “Apple is hitting new all-time highs and that is pushing up the Nasdaq 1.2%. You can see the positive sympathy this creates in the broader market as the Russell 2000 ETF (IWM) is up 0.8% and breadth is approaching 2 to 1 positive.”
“While this is a nice boost after the big swing yesterday it still doesn’t do much to shift the negative technical pattern,” he adds, “It is going to take more than a couple days of good action to overcome overhead and put the market back into a solid uptrend.”
Surveying the M&A Landscape in Biotech
Real Money Pro columnist Bret Jensen notes that in his Wednesday’s column “we talked about the nice uptick in significant deal volume in recent weeks and why the tailwinds behind that trend are likely to remain in place throughout 2018. Today, we will look at the M&A landscape in the biotech sector and who might be in play in the quarters ahead.
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