Board-Ansicht
Mix-Ansicht- Close Dow -47.62 at 10532.23, Nasdaq -104.10 at 2059.31, S&P -18.62 at 1224.36: - Der letzte Grund, 24.04.2001, 09:32
- Conference Call JDSU / Link - Frank1, 24.04.2001, 10:17
Close Dow -47.62 at 10532.23, Nasdaq -104.10 at 2059.31, S&P -18.62 at 1224.36:
(Achtung: JDS UNIPHASE hat angeblich für 14:00h überraschend einen Conference Call einberufen.)
It was another down day for equities as the markets followed through on Friday's losses. Nonetheless, today's sell off occurred on light volume and the market activity appeared orderly. Semiconductors led the way lower (SOX -6.5%) behind cautious comments on the group from Merrill Lynch. The firm now sees the potential for 40% downside from today's opening levels on the SOX. As a consequence, Merrill announced downgrades to a number of names in the sector with the most notable being Dow component Intel (INTC -7.9%). Not helping matters was less than stellar forward guidance from SBC Communications (SBC -1.9%) this morning. Also a Dow component, SBC reported earnings this morning which missed consensus estimates by a penny. More importantly, the telecomm company guided down its forward outlook citing a more severe economic slowdown than previously anticipated. Further comments that the company will be reducing capital expenditures led to sell pressure in the telecomm equipment sector, which got hammered on the day... The question investors face now is whether this recent sell wave constitutes a return to the droning bear market or simply represents a consolidation phase before the next leg higher. Tomorrow's Consumer Confidence data will be important as investors are looking for signals of a deterioration in consumer spending. A weaker than expected number will support the bearish stance that this economy still has a thing or two to work through. For a complete list of what to expect on the economic front, please visit Briefing.com's Economic Calendar. The recent sell pressure notwithstanding, Briefing.com continues to see the current weakness as a technical pullback rather than a continuation of the downward trend. Again, the light volume is supportive of this notion and recent declines should ultimately clear the way for additional moves to the upside. Earnings slated for tonight include Compaq (CPQ -4.0%) and Novellus Systems (NVLS -3.6%) and these reports should set the tone for today's late session. DJTA -2.4%... DJUA +1.9%... SOX -5.8%... XOI +2.1%... BTK -4.4%... Nasdaq 100 -6.3%... S&P Midcap 400 -1.4%... Russell 2000 -1.2%... NYSE Adv/Dec 1251/1816... Nasdaq Adv/Dec 1442/2396.
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