Check Point Software Technologies Inc (CHKP)

[midastouch017]

Up until now, there have not been many profit warnings in technology shares. If these also fail to materialize in the next two weeks, it is a near certainty that first quarter results will be a pleasant surprise. At the end of last week, the figures for short positions in Nasdaq shares up to mid-March were published. The figures showed that the level of short positions in shares that have dropped steeply had not increased; the fall in the shares should therefore not be attributed to concern about the quarter. In Check Point (Nasdaq: CHKP), for example, which lost 12.5% between mid-February and mid-March, the level of short positions dropped by 12.5%. It can therefore be assumed that holders of short positions in Check Point, at least, do not believe that the company will issue a profit warning.

Published by Globes [online], Israel business news - www.globes.co.il - on March 29, 2005

Midas