Stocks ended lower for a sixth consecutive session, as investors remain concerned about signs of an economic slowdown. Ciena dragged tech sector down, reporting the loss of $0.66 a share. Verizon rose 1.47% after Oppenheimer upgraded it to outperform from perform. According to an IHS iSuppli report, Apple moved in to become the largest buyer of semiconductors among original equipment manufacturers in 2010 on the back of strong demand for iPhones and iPads. EBay added 2% after Pacific Crest upgraded the co. to outperform from sector perform. Oppenheimer cut estimates for Research In Motion, saying that challenges have deepened since the company preannounced negative quarterly results. Texas Instruments declined 1% after-hours after the co. lowered its Q2 revenue forecast. Implied volatility inched higher on moderate volumes.
Thursday, June 9, 2011
Closed in the red on economic jitters
Stocks ended lower for a sixth consecutive session, as investors remain concerned about signs of an economic slowdown. Ciena dragged tech sector down, reporting the loss of $0.66 a share. Verizon rose 1.47% after Oppenheimer upgraded it to outperform from perform. According to an IHS iSuppli report, Apple moved in to become the largest buyer of semiconductors among original equipment manufacturers in 2010 on the back of strong demand for iPhones and iPads. EBay added 2% after Pacific Crest upgraded the co. to outperform from sector perform. Oppenheimer cut estimates for Research In Motion, saying that challenges have deepened since the company preannounced negative quarterly results. Texas Instruments declined 1% after-hours after the co. lowered its Q2 revenue forecast. Implied volatility inched higher on moderate volumes.
