Stocks snapped a three-day winning streak on Wednesday after a report showed housing starts fell sharply in October. Techs took a hit after weak outlooks from two software firms.
Wednesday, 18 Nov 2009 | Source: The Associated Press
Autodesk shares slid Wednesday after the design and engineering software maker's guidance implied higher costs, analysts said, and lower profit than Wall Street had expected.
Stocks were poised for a slightly lower open as investors grew jittery over a government report showing that housing starts took a dramatic decline in October.
Autodeskshares tumbled in late trading Wednesday, even through the company beat its third quarter earnings forecast, as the software firm gave an outlook that disappointed investors.
Stocks declined Tuesday as investors digested a slew of Fed statements. Disappointing comments from Home Depot and a rebound in the dollar weighed on the market.
U.S. stock index futures headed for a lower open Tuesday, after ending sharply higher in the previous season, as European stocks led the declines and added to the negative sentiment.
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