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 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 | October 31, 1997
NEW YORK -- U.S. stocks fell yesterday, led by computer companies and banks, on concern that their profits will suffer as growth slows in Asia.The Dow Jones industrial average fell 125.00, or 1.7 percent, to 7,381.67. The Dow closed at a record 8,259.31 on Aug. 6. It is still up 14 percent for the year.Hong Kong's 3.7 percent decline in the Hang Seng index early yesterday triggered declines in stocks from Tokyo to Paris, setting the stage for the Dow's tumble.J. P. Morgan & Co. led the 30-stock average lower, skidding $3.875 to $110.