Tech Stocks: Losing Day Ends Losing Quarter - InformationWeek

InformationWeek is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

IoT
IoT
Business & Finance
News
3/31/2004
06:06 PM
50%
50%

Tech Stocks: Losing Day Ends Losing Quarter

Stocks fell Wednesday as the major indexes all ended the first quarter with losses.

The first quarter of 2004 ended on a down note Wednesday as some weak growth figures in the manufacturing sector led to modest declines.

The Dow Jones industrials and the Nasdaq composite index ended the first three months of 2004 with losses, while the Standard & Poor's 500 index posted a modest gain. All three gauges were down in March.

Investors sought safety after two days of robust gains and ahead of a much-anticipated jobs report due Friday. In addition, the Institute for Supply Management releases its report on manufacturing activity Thursday.

For the day, the InformationWeek 100 was down 0.4%, or 1.18 points, to 327.52, and the Nasdaq index fell 6.41 points, or 0.3%, to 1,994.22. The Dow fell 24.00 points, or 0.2%, to 10,357.70, and the S&P 500 fell 0.8 of a point, or 0.1%, to 1,126.21. For the month, the Dow fell 2.1%, the Nasdaq fell 1.8%, and the S&P 500 fell 1.6%.

Software maker QLogic Corp. was down $9.69, or 23%, to $33 after saying it expects a revenue shortfall for the fourth quarter because of declining orders from manufacturers and a drop in sales of its storage network components. A number of brokerage firms cut the company's rating.

Other tech issues also ended lower. EMC fell 2.5%, or 35 cents, to $13.61; Cisco Systems fell 1.5%, or 36 cents, to $23.57; AT&T fell 1.2%, or 24 cents, to $19.57; Microsoft fell 1.1%, or 27 cents, to $24.93; Dell fell 0.9%, or 30 cents, to $33.62; Intel fell 0.8%, or 23 cents, to $27.20; and IBM fell 0.5%, or 48 cents, to $91.84. The Nasdaq-100 tracking stock fell 0.2%, or 7 cents, to $35.84, as nearly 86 million shares changed hands.

See the full listing of all the companies in the InformationWeek 100 and the top 5 percentage winners and losers for the last closing at informationweek.com/stocks.

We welcome your comments on this topic on our social media channels, or [contact us directly] with questions about the site.
Comment  | 
Print  | 
More Insights
2021 State of ITOps and SecOps Report
2021 State of ITOps and SecOps Report
This new report from InformationWeek explores what we've learned over the past year, critical trends around ITOps and SecOps, and where leaders are focusing their time and efforts to support a growing digital economy. Download it today!
InformationWeek Is Getting an Upgrade!

Find out more about our plans to improve the look, functionality, and performance of the InformationWeek site in the coming months.

News
Becoming a Self-Taught Cybersecurity Pro
Jessica Davis, Senior Editor, Enterprise Apps,  6/9/2021
News
Ancestry's DevOps Strategy to Control Its CI/CD Pipeline
Joao-Pierre S. Ruth, Senior Writer,  6/4/2021
Slideshows
IT Leadership: 10 Ways to Unleash Enterprise Innovation
Lisa Morgan, Freelance Writer,  6/8/2021
Register for InformationWeek Newsletters
Video
Current Issue
Planning Your Digital Transformation Roadmap
Download this report to learn about the latest technologies and best practices or ensuring a successful transition from outdated business transformation tactics.
White Papers
Slideshows
Twitter Feed
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.
Sponsored Video
Flash Poll