Oracle and Google Lead Stocks Lower
Stocks dropped on Thursday, with technology leading the decline, after Oracle issued a disappointing sales outlook and data showed Google’s ads received fewer clicks last month.
The Dow lost -120.40 , the Nasdaq Composite rose -43.53, and the S&P 500 -15.37.
Oracle
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PowerRating) lost 7.2%, despite reporting better than expected earnings, as investors fretted over the company’s sales outlook.
ComScore reported that the number of clicks on Google‘s
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PowerRating) ads fell 3% in February. GOOG shares lost 3.1% today.
ConAgra Foods
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PowerRating) jumped 7.1% after reporting earnings that beat estimates and announced a deal to sell its trading unit for $2.13 billion.
Lennar
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PowerRating) rose 1.7% after reporting a much smaller loss than expected.
Williams-Sonoma
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PowerRating) reported Q4 earnings rose 2.9% and increased its dividend, however, WSM shares dropped 5% after the company cut its 2008 forecast.
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