Another day of disappointing earnings sent stocks to their fifth straight loss on Wednesday and put the Dow and S&P 500 in the red for the year.
The Nasdaq slipped 4 to 1359, the S&P 500 lost 9 to 878, and the Dow fell 124 to 8318. Volume surged to 1.57 billion shares on the NYSE, and 1.5 billion on the Nasdaq. Decliners led 21-11 on the NYSE, and 19-12 on the Nasdaq. Downside volume was 68% on the NYSE, and 58% on the Nasdaq. New highs-new lows were 87-58 on the NYSE, and 64-63 on the Nasdaq.
After the close, Qualcomm
beat estimates and raised guidance. Texas Instruments
, Mercury Interactive
, Storage Tech
and Silicon Labs
also beat estimates. Computer Associates
beat estimates, but lowered its revenue forecast. CDW Computer
During the day, DoubleClick
gained 10% after beating estimates and reaffirming guidance.
gained 7.7% on better than expected results and guidance and a deal with Cisco
, up 0.1%, will resell AOL’s
surged on better than expected results. Motorola
and RF Micro
fell on their results, and and Unisys
was unchanged on its report.
fell 7.5% on a warning.
, down 1%, announced Linux customers.
gained 0.3% on new graphics chips.
, off 3.7%, unveiled source code.
rose 0.1% after updating its data backup product.
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