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APPLE INC (AAPL) 199.92 -$0.59 (-0.29%) 04:57AM (15 mins delay)

Options Trader: Wednesday Outlook

Apr 22, 2009 - 9:44 AM EDT

Phil Davis submits:

So far, so not so bad!

That’s how earnings are shaping up and we are pleased to see so many companies beating what are fairly low expectations - but they are expectations that are baked into the cake nonetheless. Not only that, but we’re seeing something we haven’t seen in a very long time - Upside Guidance! Just this morning (7:30), we have upside guidance from [[CHE]], [[PBG]], [[PFCB]] and [[PFS]] while last night [[CREE]], [[CYMI]], [[RCRC]] and [[WSII]] all raised guidance and NOT ONE company out of 41 reporting last night guided down. What kind of recession is this?

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Source: Seeking Alpha (Apr 22, 2009 - 9:44 AM EDT)