Techs pressure US stocks despite good employment news

US stocks rose modestly in uninspired trading today as investors looked past a mix of economic data and falling profit forecasts from Google Inc. and Applied Materials Inc.

Thu, 18 Nov, 2004 - 21:47

US stocks rose modestly in uninspired trading today as investors looked past a mix of economic data and falling profit forecasts from Google Inc. and Applied Materials Inc.

While Applied Materials’ forecasts were understandable given high inventories in semiconductors, Google’s warning that its current strong profits were unsustainable in future quarters surprised some investors.

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CourtsBusinessHeathrowPlace: USPlace: U.S.Place: New DelhiPerson: Scott WrenPerson: Michael SheldonPerson: Craig BarrettOrganisation: Google Inc.Organisation: Applied Materials Inc.Organisation: GoogleOrganisation: Labour DepartmentOrganisation: A.G. Edwards & SonsOrganisation: NasdaqOrganisation: New York Mercantile ExchangeOrganisation: Conference BoardOrganisation: Spencer Clarke LLCOrganisation: Intel Corp.Organisation: Applied MaterialsOrganisation: Oracle Corp.Organisation: PeopleSoft Inc.Organisation: OracleOrganisation: PeopleSoftOrganisation: ExpressOrganisation: Victoria’s SecretOrganisation: Wall StreetOrganisation: New York Stock Exchange
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