Stocks Take A Breather
The stock market took a breather on Wednesday after a huge fun-up fueled by a softening Federal Reserve. Rumors that Intel may warn kept stocks in check.
The ISDEX
Intel
Juniper Networks
VerticalNet
Freeserve
drkoop.com
Broadcom
Inktomi
InterNAP
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It's an odd pattern, but the Nasdaq 100 may have broken a rising wedge that formed off its rocketship move yesterday. We may fill yesterday's opening gaps sooner than we thought, particularly if Intel's quarter shapes up to be as bad as rumored. The Philadelphia Semiconductor Index got as high as 615 today, a level that would negate its recent breakdown, but then pulled back under 600. In short, not quite getting everything we wanted, but Greenspan may still have put a floor under the market.
added 3 to 475, and the Nasdaq slipped 18 to 2871. The S&P 500 lost 10 to 1366, and the Dow dropped 124 to 10,773. Volume declined to 600 million shares on the NYSE and 1 billion on the Nasdaq. Breadth was even on the NYSE and Nasdaq. For earnings reports, visit our earnings calendar and reported earnings. For after hours quotes and news, visit our after hours trading site.
fell 3 1/4 to 32 3/4 on a Salomon Smith Barney report that the company's quarter could be the worst in a decade.
fell 8 5/8 to 147 3/8 after Ericsson
sold shares in the company to raise money for next-generation wireless initiatives.
dropped 5 1/4 to 38 5/8 after Merrill Lynch cut earnings and revenue estimates on the company.
plunged 1 7/8 to 9 1/16 after Merrill Lynch cut its rating from Buy to Accumulate because of electronics exchange business concerns.
dropped 1 1/2 to 19 1/2 despite a buyout offer from France Telecom
for 0.225 FTE shares per FREE share.
, off 1/16 to 15/32, said it will hold a special shareholders meeting to vote on a reverse stock split to meet Nasdaq $1 listing requirements.
rose 3 13/16 to 122 after its Blutonium chip received Bluetooth certification for local wireless networks.
rose 5 1/16 to 39 1/2 on a deal with Hughes satellite.
rose 1/2 to 14 7/8 on a Bear Stearns Buy rating.