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Small Business Bears Finally Ease Up
Bears Finally Ease Up
Sellers finally eased up on Friday afternoon, as stocks ended the day only modestly lower.
The ISDEX
It was Commerce One's
Nortel Networks
Ziplink
Agile Software
VeriSign
Phone.com
PSINet
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Some mixed developments at the close. The Nasdaq formed a doji, an up-and-down day that ends unchanged, signaling a potential reversal. But the index also finished with its lowest weekly close of the year, a longer-term bearish development. The Nasdaq 100 failed to get above yesterday's breakdown at 3000. The bearish pennant breakdown two days ago gives the Nasdaq 100 downside potential to the 2500-2750 range. The Nasdaq 100 has a gap to fill at 2836 and the Nasdaq at 2966; both indexes came just short of those numbers today, which makes us think this level will be revisited at some point to finish the job.
dropped 7 to 521, and the Nasdaq lost 4 to 3027. The S&P 500 declined 4 to 1367, and the Dow fell 26 to 10,629. Volume rose to 1 billion shares on the NYSE and 1.7 billion shares on the Nasdaq. Advancers led by 14 to 13 the NYSE, but decliners led 20 to 17 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.
turn to fall apart, losing 6 1/8 to 47 3/16 on rumors of weak sales. The company denied the rumors, but it was enough to break an uptrend stretching all the way back to April. Merrill Lynch and UBS Warburg defended B2B stocks, but investors weren't in much of a mood for buying them.
lost 12 1/4 to 132 1/4. The stock has downside potential to 125 or lower, and got as low as 127 13/16 today. Ariba
fell 1 3/4 to 76 1/8, a day after falling back below its June breakout point of 83 1/2; today's high was 83 5/8. Possible support points are 70 and 60, but the stock has room to 49. Juniper Networks
lost 9 1/16 to 152 3/4, and could be headed as low as 120.
, off 3/16 to 34 1/4, continued to get hit by rumors about weakness, as did Corvis
, off 5 11/16 to 33 5/16. Ciena
, up 6 3/4 to 104 7/16, gained after taking some of Qwest's business away from Nortel.
, halted at 13/32, became the latest in a string of dot-com companies to go out of business. The company said it will not return any proceeds to shareholders.
plummeted 8 1/2 to 55 3/8 despite beating estimates by a penny with a 1-cent loss. VA Linux
added 1 3/8 to 13 3/8 after matching estimates with a 15-cent loss. Broadbase Software
lost 3 7/8 to 10 1/8 on an earnings warning.
lost 4 3/16 to 113 3/4, but well off its 102 1/2 low, after China's Ministry of Information said no organization could provide services or act as an agent for Chinese-language domain-name registration without prior approval, casting doubt on the firm's registration service launched last week.
, off 1 5/8 to 87 3/4, is set to merge with Software.com
after a shareholders vote today.
lost 1/2 to 1 1/2 on news that the company's CEO would have to sell as much as 11 million shares to cover a margin call.