Yahoo beat estimates after the close on Wednesday, capping a down day for the stock market on an up note.
Yahoo! (YHOO) Beats Earnings Estimates, Downgraded at Credit Suisse::
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An early rally on triumphant scenes from central Baghdad gave way to selling, as investors turned their focus to corporate earnings and the economy.
The Nasdaq dropped 26 to 1356, the S&P 500 fell 12 to 865, and the Dow lost 100 to 8197. Volume rose to 1.29 billion shares on the NYSE, and 1.31 billion on the Nasdaq. Decliners led 17-14 on the NYSE, and 17-12 on the Nasdaq. Downside volume was 72% on the NYSE, and 85% on the Nasdaq. New highs-new lows were 69-25 on the NYSE, and 67-29 on the Nasdaq.
After the close, Yahoo regained most of the day's 4% loss after beating and raising estimates. Sonus beat estimates, Applied Micro announced massive layoffs, and Sprint's COO resigned. Local News from Crains Chicago Business via Yahoo! News::
Navistars fiscal 08 outlook beats estimates. Health Dept. shutters Flat Top location http://us.rd.yahoo.com/dailynews/local/chicago/Crains_Chicago_Business/SIG
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During the day, Microsoft and AMD lost ground despite beating Intel to the 64-bit punch. Microsoft and Intel both report earnings on Tuesday.
IBM, down 1.7%, won an outsourcing contract with Brazil's largest telecom company. Big Blue reports earnings Monday night. Bloomberg.com: Worldwide::
Yahoo! Inc. Jerry Yang Google Inc. Kevin Landis. Analysts. shares Stahlman of Gartner Says Technology Stocks to `Take Off Robert Enderle Says Yahoo!
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Techmeme: Yahoo results wont affect Microsoft offer: Ballmer (Tom ::
baselinemag: VMware Profit Rises as Revenue Beats Estimates Yahoo Earnings Beat Estimates — Yahoo reported its quarterly earnings today,
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Predictive Systems soared 41% on a buyout.
Real Networks, down 2.4%, is expected to announce a deal with the BBC.
Motorola fell 4.5% despite a 3G deal in Indonesia. Qwest fared better, finishing unchanged on a contract with the state of Utah.
And thanks to Verizon and 7-Eleven, you can now pay bills online when you buy that Slurpee.
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