Stocks Sag On Fears Of Long War

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.

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