Feeds

Roundup: Yesterday's markets

Jitters pull Dow and Nasdaq down

  • alert
  • submit to reddit

Providing a secure and efficient Helpdesk

The neurotic gnomes of New York had a field day yesterday after the Greenspan disappointment. Fretting over an uncertain future US economy pushed the Dow down 238 points (3 per cent), and Nasdaq by 2.3 per cent. The Nikkei reached a 12-year low, reflecting the inability of the Japanese government to sort out the Japanese economy. Still, there will probably be another quarter per cent reduction in interest rates by the Fed on 29 November. One of the results was a tough session for the telecom sector. Nortel, the number two in the North American phone business, warned that because of weak demand in Europe as well as Asia, revenue would not meet expectations, and fell 10 per cent. The ripple took its toll on both Lucent (down 7 per cent) and Nokia (down 3 per cent). AT&T fell 2.5 per cent on the rumour of its interest in acquiring IBM's global network. AOL suffered when an undisclosed nervous investor sold a million shares (for around $115 million), causing AOL to lose 5 per cent. If any further evidence that stock prices do not reflect reality were required, Amazon.com was down only 1 per cent after being off-line for nine hours yesterday for what it called "scheduled maintenance". This explanation seems unlikely. The company claimed the maintenance took five hours longer expected, but this still means that it planned to be down for four hours, and it is most revealing that a significant (though unprofitable) online vendor cannot keep it systems up around the clock. We wonder what software caused the problem. Ovid Technologies, a specialist in medical and scientific content, was acquired by Dutch publisher Wolters Kluwer (whose merger with Reed Elsevier was turned down by regulators) for about $200 million in shares, representing a 19 per cent premium. NCR went up 8 per cent after it bought the Decision Support Services Group unfit of Medaphis for an undisclosed sum. ® Click for more stories

Providing a secure and efficient Helpdesk

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Driving with an Apple Watch could land you with a £100 FINE
Bad news for tech-addicted fanbois behind the wheel
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Radio hams can encrypt, in emergencies, says Ofcom
Consultation promises new spectrum and hints at relaxed licence conditions
Special pleading against mass surveillance won't help anyone
Protecting journalists alone won't protect their sources
Big Content Australia just blew a big hole in its credibility
AHEDA's research on average content prices did not expose methodology, so appears less than rigourous
Vodafone to buy 140 Phones 4u stores from stricken retailer
887 jobs 'preserved' in the process, says administrator PwC
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.