| Yahoo got earnings season off to an uninspiring start Thursday, falling 8% and dragging the market lower after merely meeting estimates.
With a triple-digit year-to-date percentage gain and a triple-digit price-to-earnings ratio, investors were hoping for signs of a stronger recovery from Yahoo. Yahoo did beat revenue estimates, but earnings and guidance only matched estimates.
Make a note of it: "whisper numbers" are back. After three years of lowered expectations, the late 1990s notion that published analyst estimates are meant to be beaten handily has returned. History News Network::
Jan 9, 2007 In Germany, a Hitler Comedy Goes Over With a Thud .. But those earnings came far more easily to him than to today’s poets.
http://hnn.us/roundup/archives/58/2007/01/HOME |
The Nasdaq fell 31 to 1715, the S&P 500 dropped 13 to 988, and the Dow lost 120 to 9036. Volume declined to 1.44 billion shares on the NYSE, and 1.73 billion on the Nasdaq. Decliners led 23-9 on the NYSE, and 21-10 on the Nasdaq. Downside volume was 82% on the NYSE, and 82% on the Nasdaq. New highs-new lows were 122-7 on the NYSE, and 219-7 on the Nasdaq.
After the close, Juniper and Sonus beat estimates, but Powerwave missed. Juniper fell after hours despite raising guidance.
During the day, Rambus rose 4% on another favorable court ruling and a DRAM deal.
J2 Global gained 2% on news that it will be added to the S&P SmallCap 600 index after the close next Tuesday.
Cisco, off 2.6%, defended employee stock options.
Microsoft, down 2%, gained another open-source competitor.
CDW climbed 1.4% on better than expected sales.
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