Stocks declined Thursday on fears that war in Iraq could last for months.
The Nasdaq slipped 3 to 1384, the S&P 500 lost 1 to 868, and the Dow fell 28 to 8201. Volume declined to 1.22 billion shares on the NYSE, but rose to 1.42 billion on the Nasdaq. Advancers led 17-14 on the NYSE, and by a few issues on the Nasdaq. Downside volume was 53% on the NYSE, and 55% on the Nasdaq. New highs-new lows were 38-38 on the NYSE, and 79-35 on the Nasdaq.
After the close, Manugistics beat estimates.
During the day, Computer Sciences surged 4.6% on a $1.6 billion outsourcing deal with Motorola
.
Broadcom plunged 16% on management changes at its ServerWorks subsidiary.
Qualcomm slipped 2.2% on earnings concerns, but the company could get a boost from a U.S. victory in Iraq.
Xerox , off 0.8%, hopes to solve the infamous “last mile” problem.
Earthlink rose 3.1% after announcing a deal with Best Buy
.
Macromedia tacked on 2 cents after unveiling new flash technology.
Network Associates slipped 0.7% on continued accounting concerns.
RSA rebounded 21% after plunging yesterday on an erroneous report.
NaviSite tacked on 0.7% on an acquisition.
Market Commentary: For our free daily market commentary and technical analysis, please visit the InternetStockReport.com home page at:
http://www.InternetStockReport.com.