NEW YORK (Reuters) - Technology shares slumped on Wednesday and pushed a Nasdaq down 1 percent after Oracle reported formula that expel doubts on a sector's health, even as broader markets sealed mostly prosaic in a thinly traded day.
Outside a Nasdaq, a marketplace recovered from early waste as some new fears over Europe faded. Traders attempted to build movement for a year-end convene and presumably erase a S&P 500's 1.1 percent waste so distant in 2011.
After Tuesday's close, Oracle Corp reported gain and sales that missed expectations for a initial time in a decade. The program hulk joins a flourishing list of companies, including some of technology's biggest and oldest names, whose formula and outlooks have carried alarm bells about business conditions.
The batch plunged 12 percent to $25.77 on complicated volume and was a tip decliner in a Nasdaq 100. Shares of other tech companies also fell. IBM was a biggest drag on a Dow, down 3.1 percent during $181.47. Cisco Systems Inc mislaid 2.6 percent to $17.92 during a close. The Philadelphia semiconductor index fell 1.2 percent.
"Oracle is a tech story, though there's regard it could be a broader mercantile story," pronounced Brad Sorensen, executive of marketplace and zone research during Charles Schwab in Denver. "We're not prepared to go that distant yet, though it does uncover that businesses are uncertain about a mercantile situation, generally with all a doubt about Europe."
Despite that, Sorensen pronounced a light volume forward of a Christmas and New Year's holidays would intensify marketplace volatility, creation a moves "a small some-more thespian than normal."
The Dow Jones industrial normal rose 4.16 points, or 0.03 percent, to 12,107.74. The Standard & Poor's 500 Index gained 2.42 points, or 0.19 percent, to 1,243.72. The Nasdaq Composite Index slid 25.76 points, or 0.99 percent, to 2,577.97.
For a year, a Dow is adult 4.6 percent while a Nasdaq is down 2.8 percent.
In Europe, investors disturbed that cut-rate loans from a European Central Bank's new appropriation operation would not be used to buy Italian and Spanish debt, that would assistance revoke towering yields and revoke a vigour on refinancing for a debt-stricken countries.
European banks took scarcely 490 billion euros in three-year cut-price loans from a European Central Bank on Wednesday. While a widening of a produce widespread between German and Italian debt primarily suggested that income was not issuing where it is many needed, those concerns faded toward a finish of a day.
"As investors digest what a ECB is doing, there's some approval of a fact that European banks are improved off carrying some-more income on their change sheets even if it isn't being lent out," pronounced Mike Shea, a handling partner and merchant during Direct Access Partners LLC in New York.
An Italian banking organisation pronounced banks would not boost their bearing to emperor debt even after a ECB charity since European Bank Authority manners daunt it.
Ryan Larson, conduct of equity trade during RBC Global Asset Management in Chicago, pronounced unconfirmed speak was present in a marketplace that banks would use ECB loans to buy German holds and not to support a debt of Spain and Italy.
"That kind of spooked a market," he said. "While it is a certain growth in terms of a lending facility, there are still a lot of problems out there."
He pronounced he was not means to endorse any of a marketplace speculation.
Tuesday's convene had carried a S&P 500 above a 50-day relocating average. Many investors and traders are looking for a anniversary "Santa rally" by a finish of a year and are penetrating to burst on any signs of momentum.
U.S.-listed shares of Research in Motion Ltd jumped 10.1 percent to $13.78 and ranked as a Nasdaq 100's tip gainer after Reuters reported that Amazon and other intensity bidders had been looking during creation an offer for a BlackBerry maker, nonetheless seductiveness had cooled somewhat.
The latest mercantile information showed sales of formerly owned U.S. homes surged in November, though revisions to information for a final 4 years gave explanation that a housing market's retrogression was deeper than formerly thought.
Contract wiring manufacturer Jabil Circuit Inc posted first-quarter income next estimates and pronounced it sees revoke income in a second quarter. Shares fell 2.8 percent to
$19.40.
Volume was light, with about 6.52 billion shares traded on a New York Stock Exchange, a American Stock Exchange and Nasdaq, next final year's daily normal of 8.47 billion.
About 59 percent of companies traded on a New York Stock Exchange sealed in certain domain while about 48 percent of a Nasdaq finished lower.
News referensi http://news.yahoo.com/oracle-sinks-nasdaq-dow-p-hold-firm-062209747.html
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6:39 AM Saturday, December 31, 2011