A unsatisfactory benefit news from Oracle Corp. dragged technology stocks reduce Wednesday.
Uncertainty over either Washington will extend a taxation cut and surprisingly vast loans by a European Central Bank to boost a region's banks also gave investors reasons to sell stocks.
The Nasdaq combination fell 40 points, or 1.5 percent, to 2,564 in afternoon trading. The Nasdaq index is heavily weighted toward technology companies, so Oracle's decrease had a large impact.
Broader marketplace indicators fell less. The Dow mislaid 30 points, or 0.3 percent, to 12,073. IBM Corp. fell 3.8 percent, a biggest decliner among a Dow's 30 stocks.
The Standard & Poor's 500 index slipped 1.9 points, or 0.2 percent, to 1,239.
Oracle plunged roughly 14 percent after a business program association pronounced it was struggling to tighten deals. The formula seemed to strengthen worries that businesses and a supervision might cut behind on technology spending. Especially worrying was a diseased 2 percent benefit in new program licenses, a pivotal pointer of direct from other businesses. Oracle had likely gains of as most as 16 percent.
Outside of a 2 percent decrease for record shares, prices were scarcely prosaic in a rest of a S&P 500's 10 sectors. Prices rose in 6 of those sectors.
"I consider a lot of people are only sitting on their hands until we get into a new year, not wanting to make any large moves in a final week or so," pronounced Bernie Kavanagh, a vice-president for portfolio government during Stifel Nicolaus.
Consumer staples rose with assistance from a 1.8 percent boost by Coca-Cola Co. and a benefit of 1.1 percent during Kraft.
Nike Inc. shares rose 3 percent after stating clever direct and aloft prices for a boots and clothing.
European markets gave adult early gains. The British FTSE 100 index fell 0.6 percent and Germany's DAX fell 0.9 percent. New information showed endless lending from a European Central Bank to European banks.
The initial greeting to a $639 billion in lending by a ECB was positive. Investors were blissful to see a bank peaceful to assistance a eurozone out of a debt crisis. But afterwards worry set in that Europe's banks indispensable so most assistance in a initial place.
"Long-term, people were a small bit endangered that banks indispensable some-more income than we suspicion they did," pronounced Joe Bell, a comparison equity researcher with Schaeffer's Investment Research.
On Tuesday a Dow jumped 337 â€" a biggest benefit this month â€" on good mercantile news from Europe and a swell in new home construction in a U.S.
News referensi http://news.yahoo.com/weak-results-oracle-drag-down-tech-shares-162305730.html
0 comments:
Post a Comment