Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : InfoSpace (INSP): Where GNET went! -- Ignore unavailable to you. Want to Upgrade?

To: Sarkie who wrote (19561)	6/12/2000 8:00:00 PM
From: KLP	Read Replies (1) \| Respond to of 28311

And Sarkie, that's the truth!!! Also, would be interested to hear comments about today's "news/opinion" for the market behavior today.....Also is there a good site to see volume of both the DOW and NASDAQ on a daily basis? Feels like we are really in the ""funny farm", but it's not funny.... i.e. --Stocks Drop on Fears Growth will slow... (today's) --Stocks Drop on Fears Growth will rise... --Stocks Drop on Fears Fed will raise rates... --Stocks Drop on Fears Fed will raise rates... --Stocks Drop on Fears Unemployment will drop... --Stocks Drop on Fears Unemployment will rise... ETC ETC ETC Stocks Drop on Fears Growth Will Slow NEW YORK (Reuters) - Stocks dropped on Monday, led lower by retailers and computer software producers, on growing concern that a slowdown in the U.S. economy will hurt corporate profits. Citrix Systems (CTXS.O) led the technology-dominated Nasdaq market lower after the specialty software company cut its second-quarter earnings estimates to half of what Wall Street expected. Its stock dropped 18-15/16 to 22-1/4. ``Folks are concerned that we need very impressive growth and earnings in order to justify the valuations that they continue to support,'' said Charlie Crane, chief market strategist at Key Asset Management. ``Any story or macroeconomic factor that could damage those aggressive revenue forecasts is going to have an out-sized impact,'' he added. Still, trading was light ahead of economic data due later this week that is likely to have an impact on whether the Federal Reserve continues its campaign of interest-rate rises. Based on early and unofficial closing figures, the Nasdaq composite index (.IXIC) ended down 106.92 points, or 2.76 percent, to 3,767.92. The blue-chip Dow Jones industrial average (.DJI) tumbled 49.85 points, or 0.47 percent, to 10,564.21. Telecommunications, biotechnology and Internet shares all declined. Among the retailers to drop were home improvements group Home Depot Inc. (HD.N), down 2 to 46-1/16, and Wal-Mart Stores Inc., the world's largest retailer, which declined 1-1/4 to 52-3/4. Analysts have been reducing their recommendations on Home Depot amid signs that growth in both the housing market and retail sector is softening following the Fed's moves to raise interest rates six times in the past year. The declines in the market would have been greater without gains from oil companies, including heavyweight ExxonMobil (XOM.N), which added 1-9/16 to 80-3/4, as oil prices climbed. Broader measures of the market slipped as well with the Standard & Poor's 500 index (.SPX) down 10.95 points, or 0.75 percent, at 1,446.00. ``We have a couple pre-announcements,'' said Arthur Hogan, chief market analyst at Jefferies & Co, of the earnings warnings from Citrix and others in the technology sector. ``Away from that we're in relatively good shape all things considered. We've got some very important economic data coming but unfortunately not until Wednesday and Thursday.'' On Wednesday, the Consumer Price Index for May should yield clues as to the extent of future interest-rate hikes by the Fed. Last week, Wall Street applauded briefly after producer price data indicated inflation remained fairly tame in May. Traders also expect that May retail sales on Tuesday, the Federal Reserve's Beige Book on Wednesday, and May industrial production data on Thursday will offer the market direction. One of the biggest losers of the day was Harmonic Inc. (HLIT.O), which fell 18-11/16 to 38-3/4 after the telecommunications equipment maker reiterated that sales to No. 1 customer AT&T Corp. (T.N) continued to slip.