Wall St. droops on Oracle, PPI
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U.S. stocks fell on Tuesday after news of the sharpest rise in producer prices in 32 years and disappointing financial results from tech bellwether Oracle and Circuit City, a leading electronics retailer.
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SHARES are set for a bumpy ride after Wall Street lost ground on the weekend, derailed by weak US jobs data and a poor prognosis from Intel which sparked worries for the health of the tech sector.
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U.S. stocks fell on Wednesday on concern about higher-than-expected inflation and a sharp drop in shares of technology bellwether Hewlett-Packard Co.
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Stocks declined Monday, the last day of a volatile and difficult year on Wall Street.
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Blue chips ended lower on Monday,  under pressure from disappointing Thanksgiving sales from No. 1  retailer Wal-Mart Stores Inc. WMT.N, while tech stocks drew  support from Apple Computer Inc. AAPL.O and drove the Nasdaq  to its highest close in 10 months.
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NEW YORK  -The S&P 500 and the Nasdaq fell in  choppy trade on Wednesday, as pessimism about the U.S. economy  mounted after Intel Corp , the world's largest chip  maker, posted earnings and a profit forecast that disappointed  investors.
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Wall Street stocks slumped in volatile trade on Tuesday, led by telecoms, financials and technology amid concerns about the US consumer and worries about the health of banks.
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Earnings reports from IBM, Intel, and AMD and acquisition news from Oracle and Sun did nothing to calm IT investor fears about an uncertain U.S. economy this week.
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U.S. stocks fell on Tuesday, with the Nasdaq tumbling 1 percent, after government data showed the sharpest rise in producer prices in 32 years last month and Oracle Corp.  reported disappointing sales.
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Wall Street stocks were expected to open mixed on Friday, with technology stocks gaining ground led by PeopleSoft Inc  but blue chips held back by a profit warning from Alcoa Inc. .
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Stocks wilted as comments from Alan Greenspan, the former Federal Reserve chairman, and worries about coming economic data deflated a rally fed by takeover activity.
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Investors sold stocks slightly lower Monday in very light trading as Wall Street wrestled with respectable but uninspiring holiday sales reports and waited to see the extent of the damage due to the earthquake and tidal waves in Asia.
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(InfoWorld) - The tech-heavy Nasdaq has been climbing recently, spurred by some of the usual suspects, such as Google. But Oracle results and prospects for chip makers also inspired confidence among IT investors this week. Expectations have not been great this year for mature areas of the enterprise software market. But Oracle inspired IT investors this week with aÂ strong financial reportÂ that indicates its acquisition strategy has been paying off. Quarterly revenue rose 20 percent to $5.8 billion and profit increased 23 percent to $1.6 billion. Excluding extraordinary charges, Oracle's $0.37 per share in the quarter beat estimates by analysts polled by Thomson Financial, who had forecast $0.35 per share. Oracle shares jumped $0.53 to close at $19.69 on Wednesday, a day after the earnings report, and continued strong. Over the last three years, including theÂ PeopleSoft deal, Oracle has made about 30 purchases for approximately $25 billion. For example, business intelligence software maker Hyperion,Â a recent acquisition, added $43 million to Oracle's new license revenue in the quarter. Oracle is now going after companies that will help the company target sales in vertical markets. On the post-earnings report conference call with analysts, CEO Larry Ellison said that Oracle will continue its acquisition strategy. Meanwhile, Google continues to break records and expectations. Brokerages, including Oppenheimer & Co., Sanford C. Bernstein & Co., and JMP Securities,Â issued bullish analysis reports this weekÂ and raised share-price targets after seeing the company's share price rise about 15 percent over the last quarter. As Google continues to dominate search advertising, however, it has also spent lavishly on R&D, technology infrastructure and acquisitions. Though profit has been great, the spending has sparked some debate. But this week, JMP's Bill Morrison added a new twist to conventional thinking, writing in a research report that the capital expenditures have given Google a cost-efficient technology platform. This platform gives Google an ongoing cost advantage over competitors, he said. After the report, Google shares hit their highest close on Tuesday since the company's 2004 IPO, although they drifted down over the next few days. In the chip sector, a price war between Intel and AMD, coupled with expectations for a soft PC market this year, has caused concern. But some new reports and forecasts have cheered investors lately. Lehman Brothers raised its rating on Intel this week to "overweight" from "equal weight." Lehman analyst Tim Luke cited new product cycles, progress on restructuring, and a reasonable share valuation. The report echoed a similar research paper issued by brokerage Stifel Nicolaus and Co. last week, only that one was directed at AMD. Meanwhile, GartnerÂ said this week that worldwide personal computer shipments are projected to rise 11.1 percent in 2007, higher than previously expected. PC shipments are estimated to increase to 257.1 million from 231.5 million a year earlier as sales in emerging markets grow, Gartner said, in the wake of a similar report several weeks ago from IDC. The news caused shares of Intel and AMD to spike. Intel shares closed at $23.79 Wednesday, up by $0.41, and continued strong Thursday. AMD also spiked on Wednesday, though lost some ground later in the week.
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InfoWorld - Earnings reports from IBM, Intel, and AMD and acquisition news from Oracle and Sun did nothing to calm IT investor fears about an uncertain U.S. economy this week.
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NEW YORK -- Wall Street suffered a sharp pullback Monday as investors returned from the Thanksgiving weekend with questions about the strength of the retail sector following a rare sales decline at Wal-Mart Stores Inc. The Dow Jones industrials fell 125 points.
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US stocks dropped as comments from technology companies such as Cisco Systems, Hewlett-Packard and Intel failed to revive a rally that stalled after the Standard &amp; Poor&#39;s 500-stock index set a three-year high last week.
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US stocks were set to fall sharply on Thursday after Cisco's downbeat outlook added to concerns about the outlook for corporate tech spending and Wal-Mart's January sales proved a big disappointment. Jobless claims meanwhile declined less than expected.