Newspaper article St Louis Post-Dispatch (MO)

Oracle, Intel Slip; Oils in 3-Day Advance

Newspaper article St Louis Post-Dispatch (MO)

Oracle, Intel Slip; Oils in 3-Day Advance

Article excerpt

Stocks fell for a fifth time in seven days Thursday as Oracle Corp. and Intel Corp. retreated on concern that software and semiconductor companies' profits may not rise as fast as expected this year.

Oracle, up 48 percent last year, slumped 3 3/16 to 36 9/16 as analysts trimmed earnings forecasts for the database software company, citing an expected slowdown in European sales.

"All that has to happen is things get a little less good, and investors don't ask a lot of questions on their way out," said David Nelson, a money manager at Investment Counselors of Maryland Inc. The Dow Jones industrial average closed with a 1.15-point loss, after being up 41.95 points. The Standard & Poor's 500 index fell 3.43, bringing its loss over seven days to about 13 points, or 1.7 percent. The Nasdaq composite slid 13.66. Dragging both indexes lower were Oracle and Intel, down 4 1/8 to 145 3/8. Microsoft Corp. fell 2 15/16 to 97 15/16. Also holding back stocks, bond yields rose as fixed-income traders speculated that today's jobs report may suggest that inflation and interest rates are poised to climb. …

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