Chip stocks lost ground Tuesday after J.P. Morgan downgraded the sector to neutral.
J.P. Morgan said the sector could see falling margins and earnings early next year as demand and utilization rates fall and inventories build up. riskfriends.net » all things operational risk » @biz.yahoo.com :: Verizon, AT&T slip after UBS downgrades on economy. Shares of AT&T Inc. and Verizon Communications Inc. declined Monday after UBS downgraded the two largest http://www.riskfriends.net/@biz.yahoo.com/?q=downgradeHOME |
J.P. Morgan analysts singled out Cypress, ON and Fairchild as vulnerable to a downturn. The stocks fell 4-6%, and the chip sector ended the day 1.5% lower. Posts tagged Barcelona at Engadget:: Thankfully for quad-core AMD hopefuls, their new Barcelona chip will feature an enhanced AMD shows off Barcelona server chips, garners mixed reviews http://www.engadget.com/tag/Barcelona/HOME | Stocks slip after Thursday's big drop :: CHICAGO SUN-TIMES :: Business:: Jun 27, 2008 Stocks slip after Thursday's big drop - CHICAGO SUN-TIMES. The blue chip index is down 19.9 percent from its record high close of http://www.suntimes.com/business/1028170,stox062708.articleHOME |
The broader market finished mixed Tuesday on news of big declines in consumer confidence and new home sales.
The Nasdaq slipped 5 to 2116, the S&P was unchanged at 1215, and the Dow added 12 to 10,456. Volume declined to 1.95 billion shares on the NYSE, but rose to 1.62 billion on the Nasdaq. Decliners led 18-13 on the NYSE, and 16-13 on the Nasdaq. Downside volume was 58% on the NYSE, and 57% on the Nasdaq. New highs-new lows were 91-113 on the NYSE, and 89-57 on the Nasdaq. Intel, Samsung remain top global chip makers - 7/2/2008 2:27:00 PM :: Jul 2, 2008 Intel and Samsung-- two companies that supply a lot of chips to the computer industry-- remain the SIA downgrades global chip forecast http://www.purchasing.com/article/CA6575308.htmlHOME | Techs stocks slip - Oct. 9, 2001:: Chip stocks were especially hard hit. The Philadelphia Stock Exchange's percent after ABN Amron downgraded its rating on that stock to "hold" from "add. http://money.cnn.com/2001/10/09/technology/techwrap/index.htmHOME |
After the close, Paychex beat estimates.
During the day, Jabil fell 2% on inline results and guidance.
Audible rose 6% on a new mobile phone download service.
Netflix climbed 1.5% on a Bear Stearns upgrade.
Audiovox and SBS tumbled on warnings.
Apropos rose 5% on a buyout offer.
FCC Rings New Round of Regulatory Uncertainty
11th Hour Extension For Customer VoIP Lockout
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