Bad News, Shaky Day for Stocks

  • October 24, 2007
  • TradingMarkets Editors

Negative results from a number of Nasdaq stocks, coupled with write-downs at
Merrill Lynch, led to an overall down day for the markets. The Nasdaq Composite
took the biggest hit, falling about 0.9%, not before falling more than 2%
intraday. Both the S&P and Dow Jones rallied back from major losses to close
only slightly lower. The Dow was basically flat, while the S&P fell about 0.15%.

Amazon.com
(
AMZN |
Quote |
Chart |
News |
PowerRating) fell over 16% despite reporting positive Q3
earnings; future projections, however, did not meet analyst expectations (read
more).

Broadcom
(
BRCM |
Quote |
Chart |
News |
PowerRating) also fell 16% after missing analyst earnings
estimates by one penny (read more).

Juniper Networks
(
JNPR |
Quote |
Chart |
News |
PowerRating) also missed analyst earnings
estimates, and fell by more than 10% through the morning (read more).

Strong earnings results from Qlogic
(
QLGC |
Quote |
Chart |
News |
PowerRating) led to shares rallying
more than 10% (read more).

Market Snapshot

Dow

 -0.98 13675.25

NASDAQ

 -24.50 2774.76

S&P 500

 -3.69 1515.90

NYSE NASDAQ

Volume

 1,569,514,980 2,746,097,265

Up Volume

 603,598,550 597,074,541

Down Volume

 949,468,230 2,122,050,553

Advances

 1212 956

Declines

 2045 1978

New Highs

 70 86

New Lows

 135 242

Strongest/Weakest Industry Groups

Strongest Industries
% Change

Weakest Industries
% Change

Pipelines		 +2.04%
Mortgage Finance		 -4.27%

Defense		 +2.01%
Semiconductor		 -2.86%

Business Training		 +1.87%
Railroads		 -1.05%


Economic
News

Sales of previously owned homes fell 8% in
September.

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