Stocks Sell Off on Missed Earnings

  • July 20, 2007
  • Darren Wong

Earnings misses from Google and Caterpillar pulled stocks sharply
lower in Friday’s session. Google and Caterpillar both finished
today’s session down 5%.

Crude oil futures for August delivery fell
fractionally to $75.57 a barrel.  Gold futures for
August delivery rose 1% to $687.60 an ounce.


Around Europe, Germany’s DAX index fell 1.5% to 7,874.85, France’s
CAC 40 fell 1.8% to 5,957.16, and Britain’s FTSE 100 index lost
0.8% to 6,585.20.

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Stocks in Motion

Google
(
GOOG |
Quote |
Chart |
News |
PowerRating) Q2 Profit Up 28%, Yet Falls Shy Of
Estimates, Revenues Surge 58% (full story). GOOG shares fell 5%.


Caterpillar
(
CAT |
Quote |
Chart |
News |
PowerRating) Q2 Profit Drops 21% On Weak North American Business;
Backs FY07 EPS Outlook, Raises Revenue Forecast (full
story). CAT shares dropped 4.5%.

Citigroup
(
C |
Quote |
Chart |
News |
PowerRating) Q2 Profit Rises 18% (full story). C shares fell 0.8%.

Schlumberger
(
SLB |
Quote |
Chart |
News |
PowerRating) Q2 Profit Surges On Strong International
Revenues (full
story). SLB shares added 3.5%.

Broadcom
(
BRCM |
Quote |
Chart |
News |
PowerRating) Q2 Profit Plunges 68% On R&D Expenses; Non-GAAP
EPS Matches Consensus; Revenue Down 4.6% (full
story). BRCM shares rose 1.5%.

SanDisk
(
SNDK |
Quote |
Chart |
News |
PowerRating) Q2 Profit Drops 71% On Pricing, Revenues Up 15% (full
story). SNDK shares added 2%.

For more stories as they happen, go to our
Breaking News section.

 


Market Snapshot

Dow

 -149.33 13,851.08

NASDAQ

 -32.44 2,687.60

S&P 500

 -18.99 1,534.09

 

 NYSE NASDAQ

Volume

 3,583,570,000 2,304,212,000

Advances

 748 768

Declines

 2478 2241

Up Volume

 409 424

Down Volume

 2854 1747

New Highs

 123 104

New Lows

 156 204


Strongest/Weakest Sectors

Strongest Sectors

Weakest Sectors
S&P Healthcare Index (HCX) S&P Banking Index (BIX)
Pharmaceuticals Index (DRG) PHLX/KBW Bank
Sector Index (BKX)
Gold Bugs Index (HUI) Nasdaq Other Finance Index (OFINX)


 


Economic
News

No economic reports released
today.

Darren Wong

Associate Editor

darrenw@tradingmarkets.com

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