AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
Byline: CRAIG SHAW
Weak economic data dragged on stocks Tuesday as NYSE indexes posted their first monthly loss of the last seven. The Dow industrials and benchmark S&P 500 each slumped 1.1% for the day in heavier trade. Small caps held up better, with the S&P 600 down only 0.5%.
Benchmark Electronics dived below its 50-day moving average for the first time since May. The stock fell 3.76, or 8.2%, to 42.27 as nearly 2 million shares changed hands, the second heaviest volume of the year.
The contract electronics manufacturer stood by its third-quarter forecast in the wake of a profit warning from Sun Microsystems, one of Benchmark's major customers. The firm still expects revenue of $445 million to $460 million and earnings of 44-48 cents a share. Wall Street sees $453.1 million and 47 cents.
Alliance Capital Management shed 2.04 to 33.49 on the year's strongest turnover. The investment manager said it suspended two executives after finding conflicts of interest related to mutual fund trading. The firm said it was contacted by the Securities & Exchange Commission as part of a probe into ...