dcsimg
RealTime IT News

Into The Red

Bullish news from two of the world's top chipmakers couldn't stop the Nasdaq from slipping into the red for the year on Tuesday.

Texas Instruments lost 1% despite raising guidance, and a 49% jump in sales at Taiwan Semi was greeted with a yawn by investors.

As a result, the Nasdaq fell into negative territory for the year, ending the day down 13 points to 1995, below the 2003 level where the index began the year.

The S&P 500 lost 6 to 1140, and the Dow fell 72 to 10,456. Volume rose to 1.48 billion shares on the NYSE, and 2.11 billion on the Nasdaq. Decliners led 20-12 on the NYSE, and 21-10 on the Nasdaq. Downside volume was 81% on the NYSE, and 69% on the Nasdaq. New highs-new lows were 185-8 on the NYSE, and 97-8 on the Nasdaq.

Sun fell 7% on a downgrade.

Oracle slipped ahead of its earnings report on Thursday.

Cymer and TriQuint also fell despite raising guidance, while Hutchinson gained on a warning.

Digital Lightwave soared 50% on a deal with Telecom Italia.

Foundry fell 16% on cautious company comments.

Enterasys plunged 18% on a downgrade.

Advanced Fibre lost 6% on reports of problems with its Verizon FTTP contract.

Xilinx rose 1% on an acquisition.

eBay eked out a gain despite problems at PayPal.

IBM announced another middleware acquisition.

And Gartner released a lukewarm report on IT spending.

Market Commentary: For our free daily market commentary and technical analysis, please visit the InternetStockReport.com home page at:

http://www.InternetStockReport.com.