Cisco Disappoints; Dow Off 102

Amazon, Microsoft fall after weak earnings

(NEWSER) - The tech sector exerted downward pressure on stocks today, snapping the Nasdaq’s 12-day winning streak, the Wall Street Journal reports. Microsoft sank 8.9% after reporting a 29% drop in quarterly earnings, while Amazon fell 8.3% after also reporting a disappointing quarter. Alcoa, Pfizer, and Merck helped the Dow climb with modest advances. The Dow gained 23.95 points to close at 9,093.24. The Nasdaq lost 7.64, settling at 1,965.96, and the S&P 500 added 2.97, closing at 979.26. More»

(NEWSER) - Stocks made gains today, with the financial and tech sectors pacing advances, the Wall Street Journal reports. Google and Research in Motion both gained at least 4%, with Citigroup and US Bancorp posting similar rises. The S&P 500’s financial sector gained 6.57%, and the index overall rose 24.23 to close at 778.12. The Dow closed up 178.73 at 7,395.70, while the Nasdaq gained 58.09, to 1,462.11. More»

Google remains below $300

(NEWSER) - Withering tech stocks tugged the broader market down today, the Wall Street Journal reports. Hewlett-Packard fell 4.6% while IBM closed down 2.9%, Cisco dropped 3.95% and Google 5.9%—after that stock closed below $300 on Friday for the first time since January. The Dow fell 79.89 to 6,547.05. The Nasdaq lost 25.21, closing at 1,268.64, while the S&P 500 shed 6.85 to settle at 676.53. More»

GDP report ends month of layoffs, losses

(NEWSER) - Stocks extended losses today off the news of a 3.8% decline in US GDP for the fourth quarter, ending a turbulent month, MarketWatch reports. The report capped a week of widespread layoffs and poor earnings at major US firms. Amazon.com was a rare exception, up 18% on strong fourth-quarter earnings. The Dow fell 148.15 to close at 8,000.86. The Nasdaq closed down 31.42 at 1,476.42, and the S&P 500 lost 19.26 to settle at 825.88. More»

Retail hit hard as well

(NEWSER) - The Dow dove 223.55 today to 13,042.74, its lowest close in 2 months, as investors reacted to rough news about tech and retail stocks. The S&P 500 wrapped up its its worst 3-day fall since January 2003, losing 21.07 to close at 1,453.70, and the Nasdaq dropped 68.06, finishing at 2,627.94. More»