Stocks Fall Hard, X Climbs, Analysts Hurt Cisco
U.S. stock indexes fell hard today on renewed economic worries and second quarter earning concerns. The DJIA fell -236.77 points to 11147.44, the Nasdaq gave back -59.55 points ending at 2234.89 and the S&P 500 lost -29.01 points to 1244.69.
US Steel
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PowerRating) surged 5.22% or $7.86 to $158.41/share on increasing spot steel prices, high global demand and the capacity to control iron/coal costs.
Cisco
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PowerRating) suffered from analyst worries about its second quarter earnings, falling 5.77% or $1.32 to $21.56/share.
Intel
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PowerRating) led the DJIA lower losing 5.26% or $1.10 to $19.82/share due to competitive concerns and negative earning speculation.
New York Times
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PowerRating) slipped 6.97% or $1.05 to $14.01/share on lowered earning estimates and fears of dividend cutting.
The VIX jumped 8.98% to 25.23, Gold climbed $5.30 to $928.60/oz, and oil slipped .50 cents to $135.54 in late day NYMEX trade.
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