IoT
Business & Finance
News
2/23/2004
05:47 PM
50%
50%

TECH STOCKS: Four In A Row

The markets fell for the fourth consecutive session as news of an IRS audit of Intel pulled key indexes lower.

Stocks fell Monday for the fourth session in a row, led by shares of Intel, which declined on news of an IRS audit.

The Dow Jones industrials fell 9.41 points, or 0.1%, to close at 10,609.62. The Nasdaq Composite Index fell 30.41 points, or 1.5%, to finish the day at 2,007.52. The Standard & Poor's 500 fell 3.12 points, or 0.3%, to 1,140.99. The InformationWeek 100 index fell 6.31 points, or 1.9%, to close at 323.28. The Nasdaq-100 tracking stock fell 41 cents, or 1.1%, to close at $36.45.

Shares of Dow component Intel fell $1 to $29, a 3.3% loss, after the company said the Internal Revenue Service has been examining its 2001 and 2002 tax returns since January. But telecom gear and chipmaker Qualcomm rose $3.03, or 5.1%, to $62.43 after the company raised its second-quarter outlook on stronger demand.

There were no major economic reports Monday, though Federal Reserve chairman Alan Greenspan said in a speech that household finances appear to be "in good shape." Looking ahead, consumer-confidence data is due Tuesday, and a preliminary fourth-quarter gross domestic product report is due Friday.

Comment  | 
Print  | 
More Insights
Register for InformationWeek Newsletters
White Papers
Current Issue
How to Knock Down Barriers to Effective Risk Management
Risk management today is a hodgepodge of systems, siloed approaches, and poor data collection practices. That isn't how it should be.
Video
Slideshows
Twitter Feed
InformationWeek Radio
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.