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By BLOOMBERG NEWS | June 24, 1998
NEW YORK -- U.S. stocks rose yesterday as investors poured money into computer companies for a second day on expectations that demand for their products will revive in the second half.Microsoft Corp. led the gains, after the No. 1 personal computer software maker won a round in court with federal antitrust officials.The Dow Jones industrial average rose 117.33 points to 8,828.46, led by computer maker International Business Machines Corp., up $3.625 to $111.75 on Microsoft's coattails.The Standard & Poor's 500 index gained 16.25 to 1,119.
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BUSINESS
By ANDREW LECKEY | May 29, 2005
Q. I like Apple Computer products and was considering buying its stock. What's your opinion? - K.C., Orlando A. Sometimes your best just isn't good enough. Even a sixfold increase in profit and a 70 percent increase in revenue for the company during its recent quarter weren't enough to boost its stock price, as Wall Street had expected even better. The firm is also predicting less impressive future results. The iPod remains the superstar of electronics gadgets, delivering nearly one-third of Apple revenue.
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BUSINESS
By BLOOMBERG BUSINESS NEWS | June 21, 1996
NEW YORK -- U.S. stocks were mixed yesterday as computer stocks retreated on concern that second-quarter earnings will fall short of expectations. Gains in Coca-Cola Co. and drug companies tempered the decline.Analysts pared earnings estimates for Hewlett-Packard Co. and International Business Machines Corp. amid signs that European sales are slumping and demand for home computers has slackened.The Nasdaq composite index slid 11.93 to 1,167.34 after having been down 26.48 points earlier. The index, which is filled with computer, software and semiconductor issues, has lost 5.51 percent since June 12, its biggest six-day decline since early January.
BUSINESS
By BLOOMBERG NEWS | February 5, 1999
NEW YORK -- A fierce sell-off in technology shares sent stock indexes spinning lower yesterday, handing the technology-heavy Nasdaq composite, which fell 83.34 points to 2410.07, the third-biggest point loss in its history.Intel Corp. and Advanced Micro Devices Inc. led computer-related shares lower amid signs that their price war on microprocessors are hurting their profit. Intel, the No. 1 chip maker, dropped $8.5625, to $130.125, after Merrill Lynch & Co. analyst Thomas Kurlak lowered his earnings estimate for this year to $4.45 from $4.60 because of lower chip prices.
BUSINESS
By BLOOMBERG BUSINESS NEWS | January 16, 1997
NEW YORK -- U.S. stocks fell yesterday after Intel Corp. warned that its revenue growth in the first three months of 1997 won't top the previous quarter's.The forecast sent Intel shares tumbling $5.125 to $142, and raised speculation that if one of America's most profitable companies is slowing down, the best may be behind for others, too.Intel's warning particularly hurt computer stocks such as International Business Machines Corp., off $2.391 at $164.625, which led the Dow Jones industrial average's retreat.
BUSINESS
By BLOOMBERG NEWS | May 22, 1998
NEW YORK -- U.S. stocks fell yesterday, as Intel Corp. and other computer-related shares slumped on concern that profits will suffer this year amid stifling competition. Pfizer Inc. led a drop in drug stocks.Intel, Dell Computer Corp. and Compaq Computer Corp. slid again amid signs that the industry overproduced personal computers and semiconductors at the year's outset. As a result, companies are forced to cut prices.The Dow Jones industrial average fell 39.11 to 9,132.37, a day after rallying 116.83 points.
BUSINESS
By BLOOMBERG NEWS | March 1, 1997
NEW YORK -- U.S. stocks sank yesterday for a third day, led by Merck & Co. and bank shares, amid concern rising interest rates will cut into corporate profits."
BUSINESS
By BLOOMBERG NEWS | June 26, 1998
NEW YORK -- An afternoon slump in Microsoft Corp. and Intel Corp. shares pulled the Standard & Poor's 500 index down from its Wednesday record yesterday and took the steam out of a two-week rally in computer shares.The S&P 500 fell 3.60 to 1,129.28 on renewed concern about profits for the computer industry's bellwethers.Microsoft fell $3.375 from its Wednesday high to $101.5625, after analysts said sales of its Windows 98 operating system, which went on sale yesterday, aren't likely to repeat the success of Windows 95.Intel dropped $1.75 to $75.625.
BUSINESS
By Bloomberg Business News | December 10, 1994
NEW YORK -- U.S. stocks stabilized yesterday after Thursday's plunge, buoyed by a rally in computer stocks and perceptions that Orange County, Calif.'s bankruptcy won't cripple the economy or financial markets."
BUSINESS
By BLOOMBERG NEWS | August 30, 1997
NEW YORK -- U.S. stocks fell yesterday, concluding their worst month in seven years, on concern that Coca-Cola Co. and other big stocks that led the market's surge to records are too expensive, given their earnings prospects. Small and computer-related stocks rose."Investors continue to take money out of the big stocks, which have had the biggest gains in recent years," said Bill O'Hearn, a money manager with Anchorage-based McKinley Capital Management, which oversees $1.2 billion. "They're flocking to the computer stocks, which they think will have better-than-expected earnings."
BUSINESS
By BLOOMBERG NEWS | June 26, 1998
NEW YORK -- An afternoon slump in Microsoft Corp. and Intel Corp. shares pulled the Standard & Poor's 500 index down from its Wednesday record yesterday and took the steam out of a two-week rally in computer shares.The S&P 500 fell 3.60 to 1,129.28 on renewed concern about profits for the computer industry's bellwethers.Microsoft fell $3.375 from its Wednesday high to $101.5625, after analysts said sales of its Windows 98 operating system, which went on sale yesterday, aren't likely to repeat the success of Windows 95.Intel dropped $1.75 to $75.625.
BUSINESS
By BLOOMBERG NEWS | June 24, 1998
NEW YORK -- U.S. stocks rose yesterday as investors poured money into computer companies for a second day on expectations that demand for their products will revive in the second half.Microsoft Corp. led the gains, after the No. 1 personal computer software maker won a round in court with federal antitrust officials.The Dow Jones industrial average rose 117.33 points to 8,828.46, led by computer maker International Business Machines Corp., up $3.625 to $111.75 on Microsoft's coattails.The Standard & Poor's 500 index gained 16.25 to 1,119.
BUSINESS
By BLOOMBERG NEWS | June 17, 1998
NEW YORK -- U.S. stocks yesterday erased part of Monday's losses as European and some Asian markets stabilized. Oil and computer stocks, which suffered the most in the decline, led the gains.Bond yields near record lows and the plunge in U.S. stocks made equities look attractive, analysts said.Intel Corp., which began the day down 29 percent from its high this year, rose $2.9375 to $69.8125. A 3.6 percent rebound in the price of oil sent Mobil Corp., down $2.8125 Monday, up $1.50 yesterday to $75.25.
BUSINESS
By BLOOMBERG NEWS | May 22, 1998
NEW YORK -- U.S. stocks fell yesterday, as Intel Corp. and other computer-related shares slumped on concern that profits will suffer this year amid stifling competition. Pfizer Inc. led a drop in drug stocks.Intel, Dell Computer Corp. and Compaq Computer Corp. slid again amid signs that the industry overproduced personal computers and semiconductors at the year's outset. As a result, companies are forced to cut prices.The Dow Jones industrial average fell 39.11 to 9,132.37, a day after rallying 116.83 points.
BUSINESS
By BLOOMBERG NEWS | May 15, 1998
NEW YORK -- U.S. stocks fell yesterday for the first time this week after Hewlett-Packard Co. warned that earnings fell short of expectations last quarter.HP's slump overshadowed a gain in Microsoft Corp., which came after the world's biggest software company said it's in talks with the government to avert an antitrust lawsuit.The Dow Jones industrial average fell 39.61 to 9,172.23. If it weren't for Hewlett-Packard's $11.3125 slide to $70.3125, the Dow would have set a second consecutive record.
BUSINESS
By BLOOMBERG NEWS | April 24, 1998
NEW YORK -- U.S. stocks fell yesterday for the first time in a week, as a warning of stagnant revenue from Microsoft Corp., the world's largest software company, signaled that the computer industry may face tough times.Bank shares also declined after Bankers Trust New York Corp. said it lost $72 million in Asia in the first quarter.The Dow Jones industrial average fell 33.39 to 9.143.33.Nasdaq's composite index, heavily packed with computer shares, fell 36.22 to 1,881.39, suffering its worst drop since March 5, when Intel Corp.
BUSINESS
By Bloomberg Business News | March 19, 1993
NEW YORK -- Stocks soared yesterday after German and U.S. interest rates fell and a report showed that initial claims for unemployment benefits fell 25,000 in the two weeks that ended March 13.The Dow Jones industrial average rose 38.90 points, to close at 3,465.64. Yesterday's session high of 3,477.26 put the Dow just below its record closing high of 3,478.34, set March 10.The Dow surged more than 50 points in the final half hour, triggering the New York Stock Exchange's "downtick" rule for the first time since March 8. In an effort to stabilize the market, the rule blocks some computer-driven trading of rising stocks.
BUSINESS
By Bloomberg Business News | November 25, 1993
NEW YORK -- Stocks gained yesterday, led by a rally in computer-related issues and optimism about the strength of the economic recovery.The Dow Jones industrial average rose 13.41 points, to 3,687.58, with shares of International Business Machines Corp. leading the way. IBM rallied $1.875, to $55, after an analyst at Smith Barney Shearson Inc. raised his investment rating to "outperform.""Computer stocks were beat up pretty bad, and they were overdue for a rise," said Gil Knight, managing director at ASB Capital Management Inc., who helps manage $10 billion in investments.
BUSINESS
By BLOOMBERG NEWS | February 12, 1998
ISLANDIA, N.Y. -- Computer Associates International Inc. yesterday offered to buy Computer Sciences Corp. for $9 billion, stepping up pressure on the services company by disclosing the bid after months of talks broke down.Computer Associates' $108-a-share cash offer boosted Computer Sciences shares $11.69 per share to $103.87 1/2 . Computer Associates stock fell $7.31 per share to $50.75 amid concern the purchase will cut into earnings growth.Computer Associates is betting the marriage of its software and CSC's expertise will steal business from International Business Machines Corp.
BUSINESS
By BLOOMBERG NEWS | November 8, 1997
NEW YORK -- U.S. stocks fell yesterday, after declines in Asia and Europe, and a government report of unexpectedly strong growth in unemployment.Western Digital Corp. and other computer-related shares slumped.The Dow Jones industrial average fell 101.92 to 7,581.32, after Korea's benchmark stock index fell a record 6.9 percent and Japan's Nikkei 225 plunged below 16,000 for the first time since July 1995. Rising borrowing costs in Asia may hurt demand for U.S. exports.Western Digital fell $6.625 to $23.625 after the computer disk drive maker warned that earnings for the second quarter ending Dec. 27 would be disappointing.
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