TECH STOCKS: Taking A BreatherTECH STOCKS: Taking A Breather
Investors took profits on Tuesday, ending Wall Street's six-day surge.
December 2, 2003
Investors collected their profits on Wall Street on Tuesday after a six-day surge.
The InformationWeek 100 was among those feeling the pinch, falling 2.24 points, or 0.7%, to 311.59. The Nasdaq composite index fell 9.75 points, or 0.5%, to 1,980.07. The Nasdaq-100 tracking stock fell 35 cents to $35.70 as nearly 65 million shares changed hands. The Dow Jones industrials fell 45.41 points, or 0.5%, to 9,853.64. The Standard & Poor's 500 lost 3.50 points, or 0.3%, to close at 1,066.62. "After a run-up like we saw Monday, it's normal for people to say, 'I don't want to pay those prices, I'm going to pull back,'" Barry Berman, head trader for Robert W. Baird & Co. in Milwaukee, told The Associated Press AT&T fell 8 cents to $20.27 after Betsy Bernard stepped down as president to pursue other opportunities; the company named William J. Hannigan, chairman and chief executive of Sabre Holdings Corp., to succeed her. Texas Instruments lost 7 cents to close at $30.11 after selling its remaining stake in Micron Technology. Gains related to the sale were expected to raise the chipmaker's fourth-quarter net income by $125 million. Micron fell 29 cents to $12.76.
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