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THE BIG PICTURE An earnings warning from Finland's cell phone giant chilled techs Thursday.
Nokia plunged 13 15/16, or 25%, to 41, slashing through its 200-day moving average on easily the heaviest volume since its breakout in October. The firm'ssecond-quarter profit beat expectations. But it warned third-quarter net wouldbe sequentially lower as it launches a new line of cell phones.
Meanwhile, new data showed inflation is still mild. Labor c
osts rose 1% in the second quarter, matching estimates. June durable goods orders spiked up 10% due mainly to a huge boost in jet orders.
Nokia isn't included in any of the major stock averages. But …