Radio Stocks Fizzle on Analyst Downgrade
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Shares of radio station operators sank in Friday trading, saddled by a report raising concerns that future growth could be limited as advertising demand wanes amid fierce competition from personal media players and satellite radio.
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For its third quarter ended Sept. 30, the New York satellite radio broadcaster lost $169 million, or 14 cents a share. That compares with a year-ago loss of $107 million, or 11 cents a share.
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Shares of networking giant Cisco Systems Inc. led an overall decline in the tech sector in Wednesday trading after an analyst downgraded the stock and highlighted warning signs for slowing sales in the coming months.
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Only one satellite radio stock is worth buying...and it&#39;s not the one that snagged Howard Stern. This is an update of a column that originally ran on September 30.
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U.S. stocks slid on Thursday, after  earnings reports from eBay Inc. EBAY.O and Qualcomm Inc.  QCOM.O disappointed, while a survey showing a slowdown in  growth at U.S. Mid-Atlantic factories caused some concern.
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US stocks were lower at midmorning on Monday, as talk of deal activity was offset by a renewed rise in bond yields.
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SAN FRANCISCO (CBS.MW) -- Shares of Sirius Satellite Radio declined as much as 22 percent Wednesday following two analyst downgrades.
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U.S. stocks opened lower on Thursday,  weighed down by disappointing earnings from eBay Inc. and a  lower-than-expected profit forecast from Qualcomm Inc. .
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Brokerage announces weaker-than-expected results dragged lower by a writedown in the value of some of its assets.
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The Dow was down more than 200 points at one point today as earnings reports from Wachovia and Caterpillar disappointed investors.
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Stocks turned lower on Thursday, with the Nasdaq losing 1 percent, on a handful of disappointing earnings reports, including results from cable TV operator Comcast Corp .
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The FTSE 100 index closed lower again, weighed down by weakness across telecoms and media stocks, while early losses on Wall Street added to the market's woes in afternoon trade, dealers said.
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Shares in eBay Inc.  slipped 2 percent on Wednesday, deepening a decline since the start of 2005 as investors re-examine the Internet auctioneer's valuation after a strong run late last year, analysts said.
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Shares of Lucent Technologies Inc.   fell on Tuesday, dragging down other telecommunications  equipment stocks with it a day after the company warned of a  fall in third-quarter earnings on slower wireless network  equipment sales.
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U.S. blue-chip stocks slid lower on  Thursday, pulled down by industrial bellwether Caterpillar Inc.  CAT.N, but technology shares remained higher after eBay Inc.  EBAY.O posted strong earnings.
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Stocks were seen opening lower on  Wednesday after investment bank Morgan Stanley MWD.N said  quarterly profit fell, while a brokerage downgrade on  bellwether Cisco Systems Inc. CSCO.O could hurt technology  stocks.
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Shares of Sirius Satellite Radio Inc.   fell more than 7 percent on Tuesday after the  pay-radio provider cut its fourth- quarter subscriber target,  citing disappointing sales over the U.S. Thanksgiving holiday  weekend.