It's so easy to paint investing with broad brushstrokes, and say "tech" is strong, or "tech" is bad, but with Intel, IBM, eBay and Google all reporting this week, we get to remind ourselves that the sector is made up of individual stocks and individual industries.
Wall Street should brace for a round of profit warnings from U.S. technology companies this results season, as consumers and businesses rein in spending amid a weaker economy and record energy prices. The world's largest microchip company, Intel Corp spacer , kicks things off for the sector Tuesday, followed by top computer services provider IBM spacer Wednesday and Web search leader Google Inc spacer Thursday.
Stock fell sharply Friday, led by industrials and techs, as General Electric's earnings miss cast a gloomy haze over earnings season. The Dow finished down 2.3 percent for the week, while the S&P shed 2.7 percent and the Nasdaq lost 3.4 percent.
Plus, Intel drags down tech, breaking news from American Airlines and UPS and much more.
Short-dated U.S. Treasury debt prices gained Tuesday on firming expectations for Federal Reserve interest rate cuts in the face of a sagging economy.
The news was not particularly good today, and so a modest drop was certainly a decent performance. Consider: 1) semis weak on AMD's poor guidance 2) materials mixed on Alcoa below estimates 3) Fed minutes full of concern about economic slowdown
What's the best way to play the anemic tech sector? Stick with what's working.
Just how bad can it get for Advanced Micro Devices? Seems we've been down this road often, and recently. It was only January when Banc of America issued a blistering advisory to clients that despite a 62 percent pummeling in 2007, AMD spacer was still not a good deal; that difficult times still lay ahead.
Stocks closed lower amid more bad news in the financial sector and a report showing the Federal Reserve is more worried about a recession than it has previously indicated.
European shares snapped a two-day winning streak to end Tuesday 1 percent lower, led down by banks on persistent worries of more losses from a global credit crisis, and by weakness in technology shares.
Stocks struggled back to level ground after investors shrugged off a slew of bad news from technology companies, real estate and banks.
There's plenty of hand wringing around first quarter earnings, and Alcoa didn't help by kicking off the reporting season with a miss.
Stocks held lower on a slew of bad news, as troubles in technology, more signs of weakness in the banking system and a reminder that the housing slump is far from thwarted a week-long mostly positive run on Wall Street.
Stocks opened broadly lower as a slew of warnings that company earnings would slip in the first quarter, especially in technology, combined with more fear in the financial sector to dampen the recent positive run on Wall Street.
Futures are down slightly, but have been stable throughout the morning, despite rather downbeat commentary from Alcoa and AMD. Metals a bit weaker (the IMF sold 12 percent of its gold stake, so gold is down 1 percent), dollar fairly stable, Europe down about 1 percent on average.
U.S. stock index futures were lower on Tuesday after Alcoa opened the earnings season with a fall in profit and AMD said it would slash 10 percent of its workforce.
The Dow was little changed on Monday as rising oil prices stoked fears that corporate profits could suffer. What's the Word on the Street?
Advanced Micro Devices said it will cut 10 percent of its work force after first-quarter sales fell more than it had expected.
Micron Technology, the largest U.S. maker of computer memory chips, on Wednesday posted a wider quarterly loss as revenue fell and costs rose amid a persistent slump in memory chip prices.
Surprise, surprise. Another CEO could get a massive payout despite his terrible performance.