A strong rally on better than expected retail sales and consumer sentiment faded on Friday, as the market ended the day in the red.
The Nasdaq lost 6 to 1358, the S&P 500 fell 3 to 868, and the Dow declined 17 to 8203. Volume declined to 1.13 billion shares on the NYSE, and 1.22 billion on the Nasdaq. Advancers led by exactly one share on the NYSE, while decliners led 16-14 on the Nasdaq. Downside volume was 50% on the NYSE, and 55% on the Nasdaq. New highs-new lows were 69-26 on the NYSE, and 86-44 on the Nasdaq.
RSA and Foundry
rocketed on better than expected earnings, and Juniper
and Powerwave
also gained on better than expected results.
HP lost 1.7% despite a $3 billion contract win.
Microsoft slipped 1.6% after suing Lucent
.
Apple fell 8% on reports that it may acquire Vivendi’s Universal Music Group. Apple also patched seven critical flaws.
Sun , off 1.8%, needs to sharpen its Linux focus, according to analysts. Also, analysts will be watching to see how the company’s x86 strategy is paying off when it reports earnings next week.
Brocade was unchanged on news of layoffs.
AOL , off 2.8%, is testing video messaging.
Intel , down 0.7%, is pushing WiFi with Boingo.
And Deutsche Bank analysts said the chip sector faces significant risks.
Market Commentary: For our free daily market commentary and technical analysis, please visit the InternetStockReport.com home page at:
http://www.InternetStockReport.com.
