Disappointing earnings reports and a surge in weekly jobless claims sent stocks lower on Thursday.
The Nasdaq lost 8 to 1457, the S&P 500 declined 7 to 911, and the Dow fell 75 to 8440. Volume declined to 1.5 billion shares on the NYSE, and 1.65 billion on the Nasdaq. Decliners led 19-13 on the NYSE, and 17-13 on the Nasdaq. Downside volume was 68% on the NYSE, and 57% on the Nasdaq. New highs-new lows were 131-22 on the NYSE, and 145-29 on the Nasdaq.
After the close, Amazonsurged near a 52-week high (28.04) after beating estimates and raising guidance. Western Digital, Sina.comand Digital Insightbeat estimates, VeriSignand NetIQmet estimates, and Emulexand Openwaveguided lower.
During the day, Overtureplunged 30% on dismal results.
SBCgained 3.3% on better than expected earnings. That helped out Verizon, which gained despite adverse rulings by the FCC and a judge who said the company must reveal the names of customers who may have illegally downloaded copyrighted music.
Microsoftslipped 1% as it formally unveiled Windows Server 2003.
Lucentfell 3.5% on the resignation of COO Bob Holder.
Digital River, Intersil, Veritas, Microchipand Micromusesurged on their earnings reports.
eResearch, Symantecand Siebelrose on their results, while Qualcommand KLA-Tencordeclined on theirs.
AOL, off 1.4%, will offer wireless IM.
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