The outlook for the wireless sector still looks mixed.
fell 6% Tuesday on the same day that Research in Motion
soared 22% after raising estimates. Nokia raised estimates slightly, to the high end of estimates, but investors wanted evidence of a more robust recovery.
After the close, Texas Instruments
added to the uncertainty when it lowered earnings guidance.
The broader market was weighed down during the day by weakness in the retail sector and a downgrade to Home Depot
The Nasdaq fell 15 to 1873, the S&P 500 lost 8 to 1023, and the Dow fell 79 to 9507. Volume rose to 1.38 billion shares on the NYSE, and 2.23 billion on the Nasdaq. Decliners led 19-12 on the NYSE, and 18-13 on the Nasdaq. Downside volume was 75% on the NYSE, and 57% on the Nasdaq. New highs-new lows were 195-3 on the NYSE, and 305-3 on the Nasdaq.
surged on a deal with Sun
, and iVillage
soared on a content deal with MSN. Sun lost 3% on the departure of co-founder Bill Joy.
slipped 1.6% after reaffirming guidance at a Merrill Lynch conference.
fell despite better than expected results.
Market Commentary: For our free daily market commentary and technical analysis, please visit the InternetStockReport.com home page at: