Shares of Nokia Nokia attributed its guidance to “stronger than expected mobile device volumes and relatively firm prices.” The Finnish cell phone giant said it expects third-quarter earnings of 22-23 cents a share, above expectations of 20 cents, and sales of $10.25-$10.37 billion would come in well above analysts’ $9.95 billion forecast. That was about the only good news for the market, as stocks took a beating on rising wholesale inflation and weak earnings reports from the likes of Best Buy The Nasdaq fell 11 to 2171, the S&P lost 9 to 1231, and the Dow tumbled 85 to 10,597. Volume rose to 2.08 billion shares on the NYSE, and 1.81 billion on the Nasdaq. Decliners led 22-10 on the NYSE, and 20-10 on the Nasdaq. Downside volume was 74% on the NYSE, and 58% on the Nasdaq. New highs-new lows were 104-39 on the NYSE, and 108-42 on the Nasdaq. Salesforce.com CDW Intellisync FiberNet Telecom Kulick and Soffa rallied 4.6% Tuesday after the company raised guidance well above analysts’ expectations, but the rest of the market sank on weak retail sales.
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rallied 9% on a positive analyst day and an upgrade, and Asyst
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also rose on upgrades.
fell 5% on its sales report.
jumped on a deal with Brasil Telecom.
soared after raising guidance.
lost 5% on a Piper Jaffray downgrade.