Lacking leadership
A weaker-than-expected consumer confidence index raised more questions about the strength of a recovery. Dell unveiled its newest high-end, super-thin personal computer late Monday but shares fell 3%. The company also expects its unit sales growth in China to beat the market’s projected 12% expansion in the fourth quarter. Micron beat estimates and said that [...]
The market bounced back amid bargain-hunting
Two multi-billion dollar merger announcements gave investors a reason to get back into stocks. Big mergers were considered as a sign that the credit market is improving. However, trading volumes were very low. Xerox (XRX) plunged 14.9% after the $6.4 billion acquisition of Affiliated Computer (ACS). Abbott Laboratories (ABT) to buy Solvay’s pharmaceutical business for [...]
Nasdaq posted 2% weekly loss as RIM plunged
Broad-based weakness weighed on stocks on Friday. Durable goods data disappointed. New home sales rate for August was softer than expected, it still reflected a 0.7% monthly increase, but that didn’t help stocks garner support.A rather conservative revenue forecast from Research In Motion (RIMM) didn’t provide a support for the Nasdaq, which was down [...]
The market slid for 2nd straight day
The market slumped as existing home sales report shows a surprise slide. The tech sector sank into the red on losses in shares of Electronic Arts (ERTS) and Advanced Micro Devices (AMD). The shares of video game publisher fell after Microsoft (MSFT) denied rumors it would acquire Electronic Arts Inc.
Research In Motion Ltd. (RIMM) dropped [...]
The market failed to hold gains
Stocks initially rallied after the Fed announcement, but failed to hold gains as investors used the latest nearly one-year milestone for the market as a reason to sell. Telecoms steadily outperformed for the entire session. Intel (INTC) expects sales of PCs in 2009 to at least rival 2008. Oracle (ORCL) doesn’t expect the U.S. [...]
