Newspaper article St Louis Post-Dispatch (MO)

Market Falls as Technology Stocks Retreat

Newspaper article St Louis Post-Dispatch (MO)

Market Falls as Technology Stocks Retreat

Article excerpt

Stocks fell Thursday as technology shares tumbled amid concern that Microsoft Corp.'s introduction of Windows 95 won't lead to widespread spending on other computer products.

Evidence the economy is slowing also raised concern that corporate earnings growth will diminish this quarter. International Business Machines Corp., Caterpillar Inc., Aluminum Co. of America and Walt Disney Co. helped push the Dow industrial average to its lowest level since June 30.

IBM sank 1 3/4 to 104 7/8, leading the retreat. The computer maker didn't reach an agreement to license Windows 95 until late in the day, raising concern among investors that the company wouldn't be able to offer the new operating system on its personal computers.

Microsoft fell 1 3/4 to 96 1/8.

Novell Inc.'s earnings also pulled down technology stocks. The computer-networking company's shares, the most actively traded on U.S. exchanges, fell 1 11/16 to 17 13/16. After the market closed Wednesday, Novell reported it earned 27 cents a share in its fiscal third-quarter, about 2 cents below analysts' forecasts. …

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