Tech Companies Slump; Stocks Mixed at Close
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Medioimages/Photodisc/Thinkstock(NEW YORK) — Tech stocks led the market to a mixed finish Wednesday after a disappointing earnings report from business software maker Oracle.
The Dow closed up just four points Wednesday. It had been down by 104 earlier in the session. The Nasdaq lost 26 points, and the S&P gained only two for the day.
Oracle dragged software manufacturers down Wednesday, when its stock fell nearly 14 — its biggest drop in nine years. The company’s losses came after a poor quarterly sales report missed analysts estimates, showing that businesses are spending less on operations managment software.
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