Dell Earnings Rattle Investors
Disappointing earnings and guidance from Dell Computer sent stocks lower on Friday, and uncertainty over the outcome of the presidential election continued to hang over the market.
The ISDEX
Traders' screens weren't all red. Ariba
Active Voice
The IPO of optical equipment company Luminent
Safeguard Scientifics
Juniper Networks
America Online
Some technical comments on the market: Note: We are now including charts in the technical market commentary. If you can't get the charts via the e-mail newsletter version, try this link: http://www.afterhourstrading.com/column.html
It may seem odd on another day of triple-digit losses, but we're going to sound a hopeful note here. The Nasdaq 100 may be forming a falling wedge here, with four touches on the lower line. The apex of that wedge is some time away, in late December or early January, but the bottom could arrive some time around late November, the two-thirds point. The Nasdaq 100 could go as low as 2850 during that time, and is likely to rise slowly once the bottom is in, but a hopeful sign nonetheless.
dropped 15 to 565, and the Nasdaq fell 116 to 3083. The S&P 500 lost 20 to 1379, and the Dow dropped 148 to 10,685. Volume declined to 440 million shares on the NYSE and 820 million shares on the Nasdaq. Decliners led by 17 to 8 on the NYSE and 26 to 8 on the Nasdaq. For earnings reports, visit our earnings calendar and reported earnings. For after hours quotes and news, visit our after hours trading site.
found support just under 100 and rose 2 3/8 to 105 1/2. Broadcom
rose 2 1/2 to 164 15/16 a day after affirming analysts' estimates. E.piphany
climbed 1 5/8 to 79, and Sycamore
added 1 3/16 to 63 1/8.
soared 4 1/8 to 19 1/16 on news that it will be acquired by Cisco Systems
, which lost 1 7/16 to 51 13/16. Cisco will take a 2-cent charge on the deal.
priced at $12, below the $13-$15 range, and slipped to 11 5/8.
lost 1 1/2 to 14 5/16 on a Robert W. Baird downgrade to Outperform from Strong Buy.
continued to struggle, off 4 1/8 to 175 1/2. A close of 174 or lower would break a broadening top on the stock, as previously noted, with downside potential to 120.
lost 1.54 to 51.14 after the Federal Trade Commission delayed a vote on the company's merger with Time Warner by three weeks. The company and the FTC continue to disagree over cable network access issues.