EGRP, as long as it stays above 22 is based, Alien. Selloff today interrupted its possible recovery, but Balmers remarks even cost him a billion bucks, and Bill got hit for 4 big ones.
Steve Balmer: "Tech stocks are overvalued!"
The world: "well, duh..."
Bill Gates: Shut up, Steve."
1. U.S. Stocks Fall as Ballmer Calls Microsoft Shares Overvalued
New York: U.S. stocks took a late- day tumble that sent
the Dow Jones Industrial Average more than 1,000 below its August
record. The Nasdaq Composite Index suffered its worst slump
since April 19 after Microsoft Corp. President Steven A. Ballmer
said a ''gold rush'' mentality had pushed up technology stock
prices beyond their worth.
''There's such an overvaluation of tech stocks it's
absurd,'' Ballmer said at a conference of the Society of American
Business Editors and Writers in Seattle. ''And I'd put our
company's stock in that category.''
The Dow average fell for a third day, dropping 221.31, or
2.1 percent, to 10,302.76. Hewlett-Packard Co. led the decline.
The Nasdaq dived 115.54, or 4 percent, to 2742.62, led by
Microsoft. The Standard & Poor's 500 Index dropped 33.10, or 2.5
percent, to 1277.41. More than two stocks fell for every one that
rose on the New York Stock Exchange. |
