Stocks Recover from Heavy Selling
Stocks erased heavy early losses to close mixed on Tuesday. The Dow lost -45.10, the S&P 500 -4.59, while the Nasdaq Composite gained +1.68.
Intel
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PowerRating) worried investors after the company lowered its outlook for the current quarter.
Citigroup
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PowerRating) lost more than 4% after analysts at Merrill Lynch lowered their earnings forecast for the company.
And Google
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PowerRating) hit a 52-week low, weighing on the tech sector.
However, some afternoon cheer was provided by Cisco Systems
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PowerRating), after CEO John Chambers said he was comfortable with the company’s long-term growth prospects.
Ambac Financial
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PowerRating) also contributed to the afternoon recovery, after yet another story emerged that the company is close to receiving a bailout.
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