Bullish news from two of the world’s top chipmakers couldn’t stop the Nasdaq from slipping into the red for the year on Tuesday.
Texas Instruments lost 1% despite raising guidance, and a 49% jump in sales at Taiwan Semi
was greeted with a yawn by investors.
As a result, the Nasdaq fell into negative territory for the year, ending the day down 13 points to 1995, below the 2003 level where the index began the year.
The S&P 500 lost 6 to 1140, and the Dow fell 72 to 10,456. Volume rose to 1.48 billion shares on the NYSE, and 2.11 billion on the Nasdaq. Decliners led 20-12 on the NYSE, and 21-10 on the Nasdaq. Downside volume was 81% on the NYSE, and 69% on the Nasdaq. New highs-new lows were 185-8 on the NYSE, and 97-8 on the Nasdaq.
Sun fell 7% on a downgrade.
Oracle slipped ahead of its earnings report on Thursday.
Cymer and TriQuint
also fell despite raising guidance, while Hutchinson
gained on a warning.
Digital Lightwave soared 50% on a deal with Telecom Italia.
Foundry fell 16% on cautious company comments.
Enterasys plunged 18% on a downgrade.
Advanced Fibre lost 6% on reports of problems with its Verizon
FTTP contract.
Xilinx rose 1% on an acquisition.
eBay eked out a gain despite problems at PayPal.
IBM announced another middleware acquisition.
And Gartner released a lukewarm report on IT spending.
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