RealTime IT News

Stocks Tumble Again

Stocks fell sharply for the third straight day Friday, as Mideast violence escalated and traders braced for a multitude of earnings reports.

After earnings warnings from the likes of EMC , AMD , Lucent and 3M , investors will turn their attention to earnings next week, as reporting season swings into high gear.

Yahoo and IBM will report their quarterly results after the close on Tuesday. Intel and eBay will release their results late Wednesday, and Google , Microsoft and AMD will report on Thursday. And those are just some of the names reporting next week.

Investors will be watching those reports closely, hoping that technology spending is stronger than early signs indicate.

The Nasdaq fell 16 to 2037, the S&P 500 lost 6 to 1236, and the Dow tumbled 107 to 10,739. Volume declined to 2.47 billion shares on the NYSE, and 1.82 billion on the Nasdaq. Decliners led 21-10 on the NYSE, and 20-9 on the Nasdaq. Downside volume was 71% on the NYSE, and 67% on the Nasdaq. New highs-new lows were 24-220 on the NYSE, and 35-239 on the Nasdaq.

Stratex Networks was a rare winner, surging 15% after raising guidance.

Blue Coat tumbled 17% on stock option concerns.

EMC slipped 1.5% on its earnings report.

CalAmp shed 15% on its results.