-$2.92
(11.4%)
Intel Corp. was easily the biggest loser in the Dow. The stock finished at $22.60 a day after the world’s biggest computer-chip maker reported fourth-quarter profit and revenue that fell short of estimates. Its first-quarter sales estimate also failed to meet estimates. It was the stock’s biggest slide since October 2002.
-$4.93
(12.3%)
Yahoo Inc. posted the worst performance in the Standard & Poor’s 500. Shares tumbled to $35.18, their biggest drop in more than three years, erasing nearly $7 billion in market value. Tuesday, the company reported fourth-quarter profit that didn’t meet Wall Street’s expectations. “It’s ugly stuff,” said one money manager.
-$22.20
(4.7%)
Google Inc. stock slid to $444.91 after Standard & Poor’s cut its rating on the shares to “sell” from “hold.” Investors are afraid that it could suffer the same fate as Intel and Yahoo if its earnings, scheduled to be released later this month, fail to meet estimates.
-1.3%
An index of computer-related stocks was the biggest drag on the S&P 500 among 10 industry groups. The Nasdaq composite index, which derives 44 percent of its value from technology companies, had its biggest loss of the year.
54%
Just more than half of the S&P 500 firms scheduled to release earnings this week beat estimates. For the fourth quarter of 2004, 66 percent beat forecasts, according to Bloomberg News.
