So, the day's already gotten off to a bad start -- that's not a good sign for an already nervous market.
announced this morning that it missed fourth-quarter estimates by 10 cents. The company also announced this morning that it ended discussions to acquire the consulting arm of
. The bid had been seen as a move to bolster the services part of its business. Hewlett-Packard, a computer and imaging giant, lately was down $5.13 to $34 in heavy before-the-bell trading on the electronic brokerage
wrote more about
H-P's earnings in a separate story this morning.
continued the slide it started last week after an online advertising company in which it has a majority interest,
, announced lower-than-expected revenue. CMGI lately was down 6.4%, or $1, to $14.62.
Let's call a spade a spade. There's not much green on Instinet's list of the 20 most actively traded stocks in preopen action, with
Avis Group Holdings
the only gainers.
Avis was gaining on news that franchising company
is buying the car-rental company. Avis lately was $2 higher to $32.
The uncertainty of the outcome of the presidential election continues to send tremors through the markets. Futures were not pretty. The
S&P 500 futures on
lately were down 11.20 to 1361.30, about 11 points below fair value as calculated by
futures were 79 points lower to 2815, about 92 points below fair value as calculated by
. That spells an ugly open for tech stocks this morning in early trading.
Europe's major indices were tentatively higher, with France's
up 0.3%, Germany's
up 0.1% and the U.K.'s
up 0.2%. Japan's
lost 2.2% overnight, while Hong Kong's
slipped 3.7% (see today's
Asian Markets Update for more).
For Friday's postclose trading, see The Night Watch.