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Tech Stocks Hurt By Microsoft, Google

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[ Technology]

U.S. technology stocks fell on Friday, hurt by a drop in shares of software maker Microsoft Corp. and Web search company Google Inc. after both companies reported disappointing revenue outlooks, Reuters says.

From [Reuters] :

“Blue-chip company Microsoft also weighed on the Dow. But a solid profit from oil-field services company Schlumberger Ltd. lifted energy companies’ shares and kept the Standard & Poor’s 500 index in positive territory.

[]

Shares of Microsoft and Google fell on Nasdaq despite posting earnings that beat Wall Street estimates as the companies reported lackluster revenue outlooks. Microsoft shares slipped 2.2 percent to $25.87 and Google dropped nearly 5 percent to $298.65.”

Funny how the market reacts. I thought Google’s forecasts were quite positive when I heard the webcast yesterday.

[Read on Reuters]

Posted by Coolz0r

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Nathan Weinberg writes the popular InsideGoogle blog, offering the latest news and insights about Google and search engines.

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