Tech Stocks Hurt By Microsoft, Google

    July 22, 2005

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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