A warning from Motorola and stronger than expected employment and wage growth had stocks on the defensive Friday.
FOXNews.com - Motorolas Q Smart Phone to Hit Market May 31 - Business ::
Motion stock closed down $1.83, or 2.7 percent, at $65.66 on Nasdaq and Motorola Credit Report. Celebrity News. SEARCH Jobs at FOX News Channel.
http://www.foxnews.com/story/0,2933,196625,00.htmlHOME |
Motorola shares tumbled nearly 8% after the company said its earnings and sales will come in well below Wall Street estimates. The news also hit shares of rival Nokia, along with suppliers like RF Micro and Silicon Labs.
The broader market got hit on much stronger than expected job and wage growth, which raised fears that the Federal Reserve could resume its rate-hike campaign. At a minimum, the report put hopes for a rate cut on hold.
U.S. stocks end week mixed on economic concerns - MarketWatch::
Stocks fall after jobs report, huge GM loss. Market ends little changed on the week Motorola picks Jha as wireless CEO. Reading the tea leaves
http://www.marketwatch.com/news/story/us-stocks-fall-after-jobs/sC-40DB-8C0A-61F59D2E79DA}HOME |
jobs report - Daily Briefing::
Motorola sticks with breakup plan. Ambac damage not as bad as feared. GM posts $15.5 billion loss street stay tuned stock stocks subprime suntrust Super
http://dailybriefing.blogs.fortune.cnn.com/category/jobs-reportHOME |
Network Equipment, Xyratex and Saba gained on their earnings news.
RightNow, Openwave, Micrel and Global Payments fell on their numbers.
Nvidia shed 6% on a downgrade.
The Nasdaq fell 19 to 2434, the S&P 500 lost 8 to 1409, and the Dow tumbled 82 to 12,398. Volume rose to 2.99 billion shares on the NYSE, and declined to 2.14 billion on the Nasdaq. Decliners led 24-8 on the NYSE, and 22-8 on the Nasdaq. Downside volume was 75% on the NYSE, and 69% on the Nasdaq. New highs-new lows were 103-35 on the NYSE, and 68-53 on the Nasdaq.
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Motorola, Jobs Report Hit Stocks