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Strategies & Market Trends : Making Money is Main Objective

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To: Softechie who started this subject	4/3/2001 11:56:59 AM
From: Softechie	Read Replies (1) of 2155

DJ Tech Stks Fall -2: Fear And Loathing On Wall Street 03 Apr 11:52 By Riva Richmond Of DOW JONES NEWSWIRES NEW YORK (Dow Jones)--Technology stocks got taken down another notch Tuesday as a rash of earnings warnings deepened investors' fear and loathing of the sector. Internet and software stocks were the hardest hit, pulled down by shockingly wide quarterly shortfalls and layoff plans from companies like Internet software firm Ariba Inc. (ARBA), Inktomi Corp. (INKT), BroadVision Inc. (BVSN) and Redback Networks Inc. (RBAK). The overwhelming investor gloom put technology bellwethers under pressure. Cisco Systems Inc. (CSCO) hasn't formally warned of weaker-than-expected results, but its stock fell 9% Tuesday to $13.63, well below its 52-week low of $15 set March 29. Amazon.com Inc. (AMZN) was down 6%, Oracle Corp. (ORCL) was down 13% and Nortel Networks Corp. (NT) fell 7.3%. All are at or near their 52-week lows. The Nasdaq Composite Index was recently down 99.63, or 5.6%, at 1683.34. The CBOE Internet Index was down 14.9%, the Goldman Sachs software index fell 10.3%. Nasdaq's telecommunication index fell 8%. (MORE) DOW JONES NEWS 04-03-01 11:52 AM

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