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Stocks ended sharply lower after a day long selling spree, sparked by worries corporate earnings growth is showing signs of weakening.
Sun Microsystems tapped semiconductor maker Intel to supply it with chips for servers and workstations, and the chief executive officers of both companies told CNBC they'll work together to develop future products and promote one another's technology.
Stocks in the U.S. are leaning towards a higher open, as investors brace for a barrage of earnings news. Oil is bucking its recent downtrend and is slightly higher as cold weather finally settles into the Northeast. European stocks are trading higher, helped by mining, metals and oil stocks. Asian markets closed higher with Tokyo at a 9-month high.
January has proven to be quite the busy month. We went from the Consumer Electronics Show, to Macworld, and then right into earnings season. And while there have been few tech surprises so far, this week promises to be filled with major headlines.
Intel's fourth-quarter profit fell 40% as the world's largest chip maker endured a painful price war with much-smaller rival Advanced Micro Devices and continued to pay for a massive restructuring.
European Commission staff have again asked the EU's antitrust chief for permission to prepare charges against Intel, part of a long process that faces further hurdles, a source familiar with the case said.
Stocks in the U.S. are seeking direction and are looking mostly higher in mixed action ahead of the open. Earnings news from big names like Intel and J.P. Morgan are making headlines, and the markets are watching for PPI inflation data this morning and the Fed's Beige Book at 2 pm. Oil slumped below $51 a barrel this morning after a deep slide yesterday.
The Dow scored its second record close in a row and the Nasdaq had its best week in four months as buyers snapped up oil, financial and technology stocks ahead of next week's earnings reports.
Shares of Advanced Micro Devices dropped 11% today after the company said lower prices would hurt its profit outlook. Subsequent downgrades from the major brokerages propelled AMD into becoming one of the most actively traded stocks at the NYSE today. But there's more behind this precipitous drop than weak numbers. What's really going on?
Shares of Advanced Micro Devices plunged, a day after the world's second-largest microprocessor maker said that low chip prices hacked into the company's fourth-quarter results.
December U.S. retail sales, oil prices and earnings news should help direct the market today. Stocks look mixed after yesterday's big move up on tech buying and a continued slide in oil. The Dow's strong runup yesterday took it to a new high, its first of the New Year.
Intel, the world's top chipmaker, plans to invest in a major new plant in China to make leading-edge chips, its biggest investment in the country to date, two sources with knowledge of the plan said.
Stocks closed higher after another volatile day as gains in technology stocks and a huge drop in oil prices boosted the major averages.
FAST MONEY IN THE BIG APPLE: The Fast Money five will ring in the opening of 2007 trading at the NASDAQ this morning. Our Dylan Ratigan and company will share their market insights every night at 8 pm, starting next Monday. Meanwhile...stocks in the U.S. look set to spring higher at the open on the first trading day of the New Year.
Chip-maker Intel said it would not object to a court order to produce documents related to its international business practices, as part of an antitrust case filed by rival Advanced Micro Devices.
There will be plenty of news for investors to digest with several Dow heavyweights, including General Electric, Procter & Gamble, and Hewlett-Packard, all hosting analyst meetings this week.