RealTime IT News

Stocks Fall On Earnings Outlook

Stocks fell again Tuesday after another day of lukewarm earnings forecasts.

The Nasdaq fell 11 to 1364, the S&P 500 lost 14 to 887, and the Dow dropped 143 to 8442. Volume declined to 1.31 billion shares on the NYSE, and 1.38 billion on the Nasdaq. Decliners led 23-10 on the NYSE, and 20-12 on the Nasdaq. Downside volume was 84% on the NYSE, and 64% on the Nasdaq. New highs-new lows were 100-32 on the NYSE, and 89-43 on the Nasdaq.

After the close, DoubleClick beat estimates and reaffirmed guidance. Motorola beat estimates but warned. CheckFree beat estimates and raised guidance. webMethods , JDA and Openwave beat estimates, and Sanmina , Avaya and Unisys matched estimates. Xilinx , Hutchinson and RF Micro warned.

During the day, Oracle gained 1.1% after reaffirming guidance and boosting its joint services strategy with EMC , which slipped 0.6%.

EDS fell 10% on news of an expanded SEC probe.

Microsoft , off 0.3%, and Sun , down 4.5%, unveiled a plan for incoporating Java into Windows. Microsoft also announced that it is buying a Web conferencing firm.

IBM , down 1%, made a big push for Linux at LinuxWorld.

Giga Information soared 192% on news that it will be acquired by Forrester .

HP , off 2.5%, unveiled new AlphaServer systems and expanded pacts with Microsoft and Brocade .

Verizon , down 3%, was ordered to turn over the name of an online music pirate. Microsoft, meanwhile, unveiled anti-piracy software.

AOL , which slipped 3.1%, boosted its programming ranks.

Lucent , up 2.4%, will resell Cisco products. Cisco climbed 0.4%.

Sohu.com surged 14.7% and Micromuse gained 3% after topping estimates.

Juniper gained 5.5% on an upgrade.

AskJeeves rose 1.4% after unveiling a new search engine.

AMD , off 0.5%, is targeting new markets such as Linux clusters and wireless security.

VA Software rose 3.7% after unveiling enterprise software developed in collaboration with IBM.

Qwest , down 5.3%, scored a deal with the U.S. State Department.

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