(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.