Blow-out results and guidance from Apple did little to help the broader market Thursday, which remained under pressure on concern about oil prices and interest rates.
Apple came within 1% of its all-time high set in March 2000 after the company made a mockery of Wall Street estimates with strong iPod and Mac sales.
The stock came under pressure with the rest of the market, however, finishing almost five points off its high, but that was still good enough for a 6.7% gain on the day.
Earnings worries at Verizon and GM
and FDA troubles at Pfizer
sent the Dow to a triple-digit loss on the day.
The Nasdaq tumbled 21 to 2070, the S&P 500 fell 10 to 1177, and the Dow plunged 111 to 10,505. Volume declined to 1.5 billion shares on the NYSE, and 2.12 billion on the Nasdaq. Decliners led 18-15 on the NYSE, and 19-11 on the Nasdaq. Downside volume was 63% on the NYSE, and 68% on the Nasdaq. New highs-new lows were 92-20 on the NYSE, and 67-29 on the Nasdaq.
After the close, Sun Microsystems met earnings estimates of 1 cent a share, but revenues of $2.84 billion missed estimates. LookSmart
warned, and Cree
missed estimates.
During the day, Google finished down slightly after the company settled unregistered option and financial disclosure issues with the SEC.
eBay fell 4% on plans to raise fees.
Verisity soared 55% on news that it will be acquired by Cadence Design
.
Harmonic Lightwaves and WebSideStory
surged after raising guidance.
Cypress climbed 1.5% on news of a restructuring.
