Business & Finance
05:54 PM

Morning Gains Melt Away

The markets got off to a good start on Thursday, but a lower forecast from AT&T was among the contributors to a losing day.

Morning gains eroded by late afternoon Thursday as investors' enthusiasm waned in the face of multiple attacks overseas, weak sales of manufactured goods, and a lower forecast from AT&T to send stock markets lower.

The Dow Jones industrials fell 35.76, or 0.3% to 10443.81, while the S&P 500 fell 3.44, or 0/3%, to 1,140.65. The Nasdaq fell 5.41, or 0.3%, to 2,015.57, and the InformationWeek 100 was nearly unchanged, falling 0.10 to 319.08. The Nasdaq 100 tracking stock fell 7 cents to $37.05 as more than 92.3 million shares changed hands.

Microsoft rose 9 cents to $28.39 after Bank of America upgraded its rating on the software company, largely on speculation about what it will do with its huge reserve of cash.

AT&T fell $1.60 to $14.81 after the company cut its revenue forecast for the year to a point below its own expectations and that of Wall Street--largely due to a regulatory decision that forced it to pull service from seven states. Several brokerage firms lowered their ratings on the stock.

Comment  | 
Print  | 
More Insights
Newest First  |  Oldest First  |  Threaded View
Register for InformationWeek Newsletters
White Papers
Current Issue
Top IT Trends to Watch in Financial Services
IT pros at banks, investment houses, insurance companies, and other financial services organizations are focused on a range of issues, from peer-to-peer lending to cybersecurity to performance, agility, and compliance. It all matters.
Twitter Feed
InformationWeek Radio
Archived InformationWeek Radio
Join us for a roundup of the top stories on for the week of July 17, 2016. We'll be talking with the editors and correspondents who brought you the top stories of the week to get the "story behind the story."
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.