No Relief For Investors

A mixed UN report on Iraq’s disarmament efforts and a strong response by the U.S. sent stocks to another losing day on Monday.

The Nasdaq lost 16 to 1325, the S&P 500 fell 13 to 847, and the Dow dropped 141 to 7989. Volume declined to 1.43 billion shares on the NYSE, and 1.44 billion on the Nasdaq. Decliners led 25-7 on the NYSE, and 23-10 on the Nasdaq. Downside volume was 89% on the NYSE, and 75% on the Nasdaq. New highs-new lows were 58-118 on the NYSE, and 46-102 on the Nasdaq.

After the close, Kronos beat estimates, and Powerwave , Vitesse and matched estimates.

During the day, Baby Bells Verizon , SBC and BellSouth gained in anticipation of an FCC broadband ruling.

IBM , down 0.7%, announced a broad push into commercial Grid computing.

Borland Software , down 3.3%, licensed Microsoft’s .NET framework. Microsoft , off 1.4%, announced a Six Sigma solution.

Microtune fell 20% after being sued by Broadcom , which lost 6.2%.

i2 plunged 27% on its earnings report.

Oracle gained 1.4% on a positive mention in Barron’s.

HP , down 2%, unveiled networking tools.

Palm , off 0.9%, said PalmOS is maintaining market share.

BEA , down 4.1%, unveiled a free service to combine XML and Java.

Overland Storage , off 2%, updated its storage resource management software.

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