Allen,
Well I found the rumor mill news:
Rumors circulated that Intel (Nasdaq:INTC - news), for example, would also report disappointing first-quarter results. Intel's stock was down 4 5/16 to 115 5/16, after advancing 5 points on Monday following the microchip maker's settlement of antritrust charges with the Federal Trade Commission. A call to Intel was not returned.
The Intel rumors caused a general retrenchment in technology stocks, which on Monday recovered from a down week last week to lead the broad market higher.
With last week's spectacular rise in the Dow to a record closing high on Friday of 9,736.08, ''people are just as nervous as the veritable cat on the roof,'' said Edward Collins, a stock trader at Daiwa Securities America. Any hint of disappointment, such as the Intel rumors, ''just causes people to run for the hills.''
Compaq Computer, for example, sank 1 5/8 to 32 3/4 in leading volume on the New York Stock Exchange, even though Dow member IBM was up 3 5/16 to 182 3/15. Compaq said Monday that its performance had lagged its peers last year, when return on invested capital and sales growth were measured.
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