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 : Cisco Systems, Inc. (CSCO) -- Ignore unavailable to you. Want to Upgrade?

To: Ed Forrest who wrote (39352)	8/10/2000 8:26:34 PM
From: Eski	Read Replies (1) \| Respond to of 77397

Stock Market Update Thu, 10 Aug 2000, 8:21pm EDT Nasdaq Tumbles as Investors Unload Technology Shares; Cisco Systems Falls By Robert Dieterich New York, Aug. 10 (Bloomberg) -- The Nasdaq Composite Index tumbled, led by Cisco Systems Inc., as investors sold technology stocks in favor of drug, beverage and industrial shares. Applied Materials Inc. dropped, dragging down semiconductor- related stocks including Micron Technology Inc. and KLA-Tencor Corp. While the chip-equipment maker's third-quarter profit topped expectations, its report fueled investor concern earnings may be slowing for chip companies. ``It's time to lower expectations and invest in those companies that have a chance of meeting or beating earnings expectations,'' said Alan Skrainka, chief market strategist with Edward D. Jones & Co. in St. Louis. He said investors are buying Coca-Cola Co., Johnson & Johnson and General Electric Co. shares because their profits will grow even in a slowing economy. The Nasdaq dropped 93.51, or 2.4 percent, to 3759.99, its biggest loss in two weeks. Gap Inc., Wal-Mart Stores Inc. and Home Depot Inc. declined, leading the Standard & Poor's 500 Index down 12.62, or 0.9 percent, to 1460.25. The Dow Jones Industrial Average rose 2.93 to 10,908.76, as Johnson & Johnson, Coke and Minnesota Mining & Manufacturing Co. gained. Seven stocks fell for every six that rose on the New York Stock Exchange. Some 937 million shares traded on the Big Board, 2 percent below the three-month daily average. Cisco, Gap Fall Cisco, the most-active stock with 59 million shares changing hands, dropped 4 7/16 to 63 3/8. The company reported stronger- than-forecast sales and profit growth this week, though it said profit margins are likely to fall. Also, rival Juniper Networks Inc. is winning business in sales of high-capacity routers, analysts said. ``There's some concern that Cisco can continue to deliver that growth,'' said Allen Ashcroft, who owns Cisco shares in the Ark Blue Chip Equity Portfolio, which is up 7.6 percent this year. ``One of these quarters, Cisco is going to disappoint.'' DDDDDDDUUUUUUUHHHHHHHHHH