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Stocks Sell Off on Missed Earnings
By Darren Wong | TradingMarkets.com | July 20, 2007
Stocks RSS

Earnings misses from Google and Caterpillar pulled stocks sharply lower in Friday's session. Google and Caterpillar both finished today's session down 5%.

Crude oil futures for August delivery fell fractionally to $75.57 a barrel.  Gold futures for August delivery rose 1% to $687.60 an ounce.

Around Europe, Germany's DAX index fell 1.5% to 7,874.85, France's CAC 40 fell 1.8% to 5,957.16, and Britain's FTSE 100 index lost 0.8% to 6,585.20.

TradingMarkets subscribers have access to 16 quantitative stock indicators and another 17 quantitative market bias indicators. These indicators are derived from our proprietary database that includes millions of trades, and designed to give you a short-term trading edge.

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Stocks in Motion
Google (GOOG | Quote | Chart | News | PowerRating) Q2 Profit Up 28%, Yet Falls Shy Of Estimates, Revenues Surge 58% (full story). GOOG shares fell 5%.

Caterpillar (CAT | Quote | Chart | News | PowerRating) Q2 Profit Drops 21% On Weak North American Business; Backs FY07 EPS Outlook, Raises Revenue Forecast (full story). CAT shares dropped 4.5%.

Citigroup (C | Quote | Chart | News | PowerRating) Q2 Profit Rises 18% (full story). C shares fell 0.8%.

Schlumberger (SLB | Quote | Chart | News | PowerRating) Q2 Profit Surges On Strong International Revenues (full story). SLB shares added 3.5%.

Broadcom (BRCM | Quote | Chart | News | PowerRating) Q2 Profit Plunges 68% On R&D Expenses; Non-GAAP EPS Matches Consensus; Revenue Down 4.6% (full story). BRCM shares rose 1.5%.

SanDisk (SNDK | Quote | Chart | News | PowerRating) Q2 Profit Drops 71% On Pricing, Revenues Up 15% (full story). SNDK shares added 2%.

For more stories as they happen, go to our Breaking News section.

 


Market Snapshot

Dow

-149.33 13,851.08

NASDAQ

-32.44 2,687.60

S&P 500

-18.99 1,534.09

 

NYSE NASDAQ

Volume

3,583,570,000 2,304,212,000

Advances

748 768

Declines

2478 2241

Up Volume

409 424

Down Volume

2854 1747

New Highs

123 104

New Lows

156 204


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S&P Healthcare Index (HCX) S&P Banking Index (BIX)
Pharmaceuticals Index (DRG) PHLX/KBW Bank Sector Index (BKX)
Gold Bugs Index (HUI) Nasdaq Other Finance Index (OFINX)

 

Economic News
No economic reports released today.

Darren Wong
Associate Editor
darrenw@tradingmarkets.com

Join TradingMarkets Director of Education, Steve Primo, as he teaches a number of quantitative strategies that can potentially give you an edge in your trading.

Sign up now for one of our free training classes and start learning how to become a better trader.

 


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