Stock slide continues
Stocks fell Wednesday on
continuing inflation concerns and disappointing revenues from Apple Computer.
Traders were also concerned about interest rates,
with the 10-year note yielding 4.45%.
Apple
(
AAPL |
Quote |
Chart |
News |
PowerRating)
beat by a penny, ex-items, but revenues were light.
iPod sales almost tripled to 6.45 units. The company
announced a new video iPod as well as a new version of the iMac.
After the close,
Lam Research
(
LRCX |
Quote |
Chart |
News |
PowerRating) beat by 0.05 but was
light on revenues. NDC Health
(
NDC |
Quote |
Chart |
News |
PowerRating) beat by 0.07. LifeCore Biomed
(
LCBM |
Quote |
Chart |
News |
PowerRating) beat by 0.04.
AMD beat by a
0.10 after the close on Tuesday.
Intel
(
INTC |
Quote |
Chart |
News |
PowerRating) was cut to neutral
weight at Prudential and the price target was reduced to $20 from $31.
Strong sectors were: Pharmaceuticals
(
DRG |
Quote |
Chart |
News |
PowerRating) +1.74%
Healthcare
(
HCX |
Quote |
Chart |
News |
PowerRating) +0.23% Chemicals
(
CEX |
Quote |
Chart |
News |
PowerRating)
+0.11%
Weak sectors were:
Gold
(
XAU |
Quote |
Chart |
News |
PowerRating) -1.67%
Networkers
(
NWX |
Quote |
Chart |
News |
PowerRating) -1.52% Airlines
(
XAL |
Quote |
Chart |
News |
PowerRating)
-1.50%
|
|
-36.26 | 10,216.91 |
| -23.62 | 2037.47 | |
| -7.19 | 1177.68 |
More stocks on the move:
Medtronic
(
MDT |
Quote |
Chart |
News |
PowerRating) guided higher on Tuesday
for fiscal 2006-2008.
Research in Motion
(
RIMM |
Quote |
Chart |
News |
PowerRating) said its
board approved a 9.5 million share stock buyback over 12 months.
Apollo Group
(
APOL |
Quote |
Chart |
News |
PowerRating) was in-line.
Revenues were light.
Harley Davidson
(
HDI |
Quote |
Chart |
News |
PowerRating) beat by 0.06.
Media General
(
MEG |
Quote |
Chart |
News |
PowerRating) reported
0.41/share, beating by a penny but down from 0.66 a year ago.
Brice Wightman