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The Dow dropped to its lowest level in nearly two years after a downgrade on brokerage stocks and a slew of weak earnings and economic reports. Several Dow components and several financial stocks hit multiyear lows, with the biggest shock coming from GM, which fell to its lowest in more than 50 years.
So let's see, we have problems: 1) it's another beat-up-the-brokers day, let's take the estimates down (see below); 2) With the Fed out of the way, it is now all about second half earnings and guidance. Several important companies have been notably downbeat on their outlooks today:
Stocks tumbled out of the gate Thursday after a downgrade on brokerage stocks and disappointing earnings from two tech giants.
Two of Wall Street's technology darlings that had been looked to as beacons to guide the sector out of hard times instead will be leading the market lower Thursday.
Now that the Fed's June meeting is out of the way, the focus on economic data will intensify as investors try to find a road map for the markets.
Easy come, easy go, I suppose, when it comes to Oracle. The company barely had enough time to finish that first glass of champagne, celebrating a great fourth quarter when gloomy guidance cut the party short.
Oracle the world's third-largest software maker, reported a higher quarterly profit, beating Wall Street estimates, but it sees software license revenue growth weakening.
The Dow closed modestly higher on Wednesday after the Federal Reserve held its key interest rate steady. What's the "Word on the Street?"
You look at Oracle, you see a company at nearly a 7-year-high, and you wonder whether the company was over-bought, and whether investors were getting a little ahead of themselves. Nope.
The Dow ended with a modest gain after a pop from the Federal Reserve's rate decision fizzled.
How reliable are options as a way of predicting stock movement? Here’s what the options markets said about Oracle and Research In Motion ahead of earnings. Were they right?
This could be a big one. Oracle will give us an early read of how American business did in the second quarter. As the largest seller of business software, Oracle has a unique view of the economy.
Oracle ended 2007 as the software stock pick of the year for a few key analysts on the Street for 2008, and today we'll get a good idea as to whether those optimistic outlooks are still justified. Just about everyone I've talked to expects Oracle to beat expectations, so it doesn't seem like a question of "if," but instead, "by how much."
Market activity Wednesday revolves around the Fed, and the dollar hangs in the balance.
Following are the “Fast & Furious” trades. Find out how to trade earnings from CSX, Bed Bath & Beyond and other market moving events
Stocks will struggle in the week ahead as they face the multiple threats of record oil prices, higher interest rates, a weak housing picture, and the fragile financial sector.
For the week ending Friday, June 20, 2008, the markets dropped on disappointing earnings results from the financial sector, and a continued spike in crude oil prices added to investors' concerns over inflation. The Dow closed below 12000 on Friday for the first time since Mid-March.
Will the fast-growth of Research In Motion and Oracle save your money from battered bank blues?
Corporate raider Carl Icahn has had much to say about Yahoo's internal machinations and its refusal to submit to the hostile overtures of Microsoft. He's had much to say about the company's planned partnership with Google, which surprisingly, seemed a little more positive than many experts had anticipated.
Stocks closed lower Wednesday, led by financial and auto stocks after worrisome results from Morgan Stanley, CarMax and FedEx. Regional banks also took a hit after Fifth Third cut its dividend.