CNBC's buzz at the bell...please note the last paragraph...LOL
WWEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE!!!!
good fortune...
pops
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Good evening!
Here is your Money Mail for Wednesday, May 9.
BUZZ AT THE BELL
Cisco's profits hit the brakes in the most recent quarter,
but the stock market was braced for the impact. The
networking giant's shares dropped 6.3 percent, taking the
Nasdaq down 2 percent to 2,156. Blue chips, epitomized by
the Dow Jones industrial average, fell 17 to 10,867, and
the S&P 500 slipped 6 to 1,255.
Not so bad, really, considering Cisco last night posted its
first-ever net loss, after restructuring and inventory
write-down charges. Excluding those one-time costs, Cisco
earned 3 cents a share in its fiscal third quarter, down
from 13 cents a share in the year-ago period.
Other networking shares bore the news better. Ciena Corp.
fell 1.2 to 60.55, Juniper Networks slipped 2.1 to 57.37
and Redback Networks rose fractionally to 21.24.
Meanwhile, gold stocks jumped as the yellow metal hit a
two-month high on New York's COMEX. Homestake Mining surged
12.6 percent 7.13 and Newmont Mining rose 10.4 percent to
20.73 -- big news, particularly considering these stocks
had already been on a tear. Could inflation fears be on the
rise? That's the usual interpretation of a precious-metals
rally.
More broadly, office equipment, natural gas and cement
stocks rose, while technology names fell.
Scott Gerlach
Managing Editor, CNBC.com |
