Back To Square One
The Nasdaq closed Friday exactly where it started the year, as technology and Internet stocks suffered yet another steep drop.
The ISDEX http://www.wsrn.com/apps/ISDEX/
Network Appliance
Portal Software
EarthLink
Register.com
Audible
Cisco Systems
Digital Insight
Jupiter MediaMetrix
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
The S&P 100 (first chart) held its uptrend off its December low, but the S&P 500 (second chart) did not. Not an encouraging sign on the S&P 500, given that the Nasdaq and Nasdaq 100 previously broke their uptrends. The market may be range-bound for a while if those lines are not recovered, but we see no technical reason for new lows.
dropped 18 to 344, and the Nasdaq fell 91 to 2470, where it began the year. The S&P 500 lost 17 to 1314, and the Dow declined 99 to 10,781. Volume rose to 1.06 billion shares on the NYSE, and 1.9 billion on the Nasdaq. Decliners led 16 to 13 on the NYSE, and 23 to 13 on the Nasdaq. For earnings reports, visit our earnings calendar at http://www.wsrn.com/apps/earnings/internet.xpl and reported earnings at http://www.wsrn.com/apps/earnings/ireported.xpl. For after hours quotes and news, visit our after hours trading site at http://www.afterhourstrading.com.
surged 3 to 38 3/16 after topping estimates by a penny with 11-cent earnings and said it sees little slowdown in business. Competitor EMC
fell 3.10 to 56.40.
plunged 2 3/16 to 8 11/16 on a Merrill Lynch downgrade.
rose 13/32 to 9 5/16 after the company and Sprint
announced amended alliance terms, renewing speculation that Microsoft
will make a play for EarthLink.
rose 15/16 to 7 3/4 after the company's 6-cent earnings beat breakeven estimates.
soared 29/32 to 1 25/32 on a $10 million investment from Microsoft.
fell 1 13/16 to 28 3/16, continuing its slide after missing estimates and warning earlier this week. Cisco supplier Power-One
plunged 3 7/16 to 28 3/4 on an earnings warning.
slipped 3/8 to 14 15/16 after beating estimates. ScreamingMedia.com
lost 31/32 to 3 despite besting estimates. Mainspring
was unchanged at 2 9/16 despite beating estimates and warning.
slipped 7/16 to 6 after missing estimates by a penny. Mercator
, down 2 11/16 to 7 3/4, also missed by a penny. Razorfish
, off 3/8 to 1 1/2, and Organic
, unchanged at 1 1/4, matched estimates.