Stocks fell again Tuesday after another day of lukewarm earnings forecasts.
The Nasdaq fell 11 to 1364, the S&P 500 lost 14 to 887, and the Dow dropped 143 to 8442. Volume declined to 1.31 billion shares on the NYSE, and 1.38 billion on the Nasdaq. Decliners led 23-10 on the NYSE, and 20-12 on the Nasdaq. Downside volume was 84% on the NYSE, and 64% on the Nasdaq. New highs-new lows were 100-32 on the NYSE, and 89-43 on the Nasdaq.
After the close, DoubleClick beat estimates and reaffirmed guidance. Motorola
beat estimates but warned. CheckFree
beat estimates and raised guidance. webMethods
, JDA
and Openwave
beat estimates, and Sanmina
, Avaya
and Unisys
matched estimates. Xilinx
, Hutchinson
and RF Micro
warned.
During the day, Oracle gained 1.1% after reaffirming guidance and boosting its joint services strategy with EMC
, which slipped 0.6%.
EDS fell 10% on news of an expanded SEC probe.
Microsoft , off 0.3%, and Sun
, down 4.5%, unveiled a plan for incoporating Java into Windows. Microsoft also announced that it is buying a Web conferencing firm.
IBM , down 1%, made a big push for Linux at LinuxWorld.
Giga Information soared 192% on news that it will be acquired by Forrester
.
HP , off 2.5%, unveiled new AlphaServer systems and expanded pacts with Microsoft and Brocade
.
Verizon , down 3%, was ordered to turn over the name of an online music pirate. Microsoft, meanwhile, unveiled anti-piracy software.
AOL , which slipped 3.1%, boosted its programming ranks.
Lucent , up 2.4%, will resell Cisco
products. Cisco climbed 0.4%.
Sohu.com surged 14.7% and Micromuse
gained 3% after topping estimates.
Juniper gained 5.5% on an upgrade.
AskJeeves rose 1.4% after unveiling a new search engine.
AMD , off 0.5%, is targeting new markets such as Linux clusters and wireless security.
VA Software rose 3.7% after unveiling enterprise software developed in collaboration with IBM.
Qwest , down 5.3%, scored a deal with the U.S. State Department.
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