An unexpected decline in productivity and growing conflict with Iraq and North Korea weighed on stocks Thursday.
The Nasdaq was unchanged at 1301, the S&P 500 declined 5 to 838, and the Dow fell 55 to 7929. Volume declined to 1.38 billion shares on the NYSE, and 1.23 billion on the Nasdaq. Decliners led 20-11 on the NYSE, and 18-12 on the Nasdaq. Downside volume was 71% on the NYSE, and 51% on the Nasdaq. New highs-new lows were 42-96 on the NYSE, and 40-85 on the Nasdaq.
After the close, EDS and Overture
warned. Tech Data
announced an acquisition.
During the day, Expedia surged 7.3% after beating estimates and announcing a stock split. The stock had initially declined on news of the departure of founder and CEO Richard Barton, but 100% year-over-year revenue growth was too good a story for investors to pass up.
Agilent plunged 24% on a warning. J2 Global
gained 2.2% after beating estimates, while Aether
fell 8% after missing revenue estimates. United Online
slipped 2.8% on better than expected results and in-line guidance.
IBM rose 0.3% after beating out EDS
for a Ford contract.
NVIDIA climbed 0.8% after settling a dispute with Microsoft
, which climbed 1%.
Oracle , which ended down a penny, won a UK contract.
Level 3 gained 2.6% after winning a contract from eBay
.
Ericsson gained 7.6% on news of a new CEO.
Palm , up 1.3%, is a bright spot in PDA sales.
Marvell climbed 0.7% on news of an acquisition.
Rediff.com fell 16% after discontinuing quarterly financial statements.
HP , off 0.8%, made a push for computer equipment recycling.
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