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Friday September 10, 02:28
Technology shares gained after Nokia raised its earnings forecast

Technology shares gained after Nokia raised its earnings forecast

(by Dr. Goldfinger)

U.S. stocks mixed yesterday. Technology shares gained after Nokia raised its earnings forecast, blue chips fell on oil prices and terrorism fears.

The Nasdaq Composite Index rose 19.01 points, or 1.03%, to 1,869.65. The Dow Jones industrial fell 24.26 points, or 0.24%, to 10,289.10. The Standard & Poor’s 500 Index rose 2.11 points, or 0.19%, to 1,118.38.

After the closing bell, Dow industrials component Alcoa, the world’s largest aluminum producer, warned that third-quarter results would fall far short of Wall Street expectations, sending its shares down nearly 6 percent in after-hours trading.

Nokia rose $1.06 to $13.77, after the world’s No. 1 mobile phone maker, raised its third-quarter sales and earnings outlooks due to strong demand.

Texas Instruments rallied $1.94, to $20.77.

National Semiconductor rose $1.48, or 12%, to $13.48. The company reported strong profits but warned of a tough time ahead amid soft demand for its chips a week after Intel, the world’s largest semiconductor company, disappointed investors with its mid-quarter update.

A hike in oil prices had a "limited" impact on stocks, hurting "some of the more conservative defensive, industrially-orientated stocks that had done well as oil had fallen."

Boeing down 79 cents, to $53.26, GM fell 39 cents, to $42.82, Pfizer fell 33 cents lower, to $32.44.

Shares of Alcoa fell to $31.41 on INET, down from their $33.29 New York Stock Exchange close. After the closing bell the company warned that third-quarter results would fall far short of Wall Street expectations.





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