In a surprising statistic, Apple last week for the first time, Microsoft will play value to the second public companies United States in the stock market capitalization behind Exxon Mobil (ticker: XOM). There is much else to withdraw as a random factoid, but it says more than you think to the preferences of the investors see the state of technology companies and the roads of the future of two of the safest in the world.

Apple's shares multiplied by 10 per the company during the last decade to $ 257.16. The Microsoft declined over the same period by 20% and are paid at a price near $ 26.Apple came on the eve of the introduction of sales outside the United States IPAD. A Steve Ballmer, CEO Microsoft do not seem much worried his rivals to beat into the ground. At a conference in India indicated that its target, high-quality products on the Windows operating system system.What that the biggest concern is the end of development, they generate a good profit.

Microsoft remains the most profitable business in the technology industry and its $ 40,000 cash for a competitor.Between January and March recorded a profit of 4.01 billion in 3070 compared to its rivals USD, but Apple's profits faster.

Shares of Apple jumped $4.44, or nearly 2 percent, to close at $246.76 Monday. The stock peaked at $250.90 during the session even as the broader markets declined.

It recently launched a "Premiere" box to galvanize growth. Rogers told Reuters "the uptake has been good" on that product, without elaborating.

"We are trying to make sure that TiVo has every possible path to framing the TV experience," said CEO Tom Rogers in an interview with The Associated Press.

In the first quarter, TiVo lost $14.2 million, or 13 cents per share, in the quarter that ended April 30. In the same quarter last year it lost $3.9 million, or 4 cents per share.

For the first quarter, TiVo said its gross margins fell to 43.6% from 54.3%, as the company chose to use its cash to invest in R&D to improve its products and better serve its distribution partners. The monthly turnover rate for TiVo-owned subscribers rose slightly to 2%, while total subscriptions fell 21% to 2.5 million.

Traders are betting that TiVo will return to the lofty levels where it was trading earlier this month.

CEO Recent Trades:


Sell: PRESIDENT, CEO Gary B Smith sells 6,250 shares of CIEN on 05/20/2010 at an average price of $15.08 a share.

Sell: PRESIDENT, CEO Gary B Smith sold 6,250 shares of CIEN stock on 05/03/2010 at the average price of 19.14, the price of the stock has decreased by 18.39% since.

Sell: PRESIDENT, CEO Gary B Smith sold 6,250 shares of CIEN stock on 04/19/2010 at the average price of 17.25, the price of the stock has decreased by 9.45% since.

Sell: PRESIDENT, CEO Gary B Smith sold 6,250 shares of CIEN stock on 04/08/2010 at the average price of 15.98, the price of the stock has decreased by 2.25% since.

Sell: PRESIDENT, CEO Gary B Smith sold 6,250 shares of CIEN stock on 03/25/2010 at the average price of 15.58, the price of the stock has increased by 0.26% since.

Sell: PRESIDENT, CEO Gary B Smith sold 18,115 shares of CIEN stock on 03/22/2010 at the average price of 14.47, the price of the stock has increased by 7.95% since.

unusual volume provides reliable evidence that the material is expected to make a gesture. Investors can measure the Put / Call Ratio Statistics to the operator sense.

Put a high ratio of calls suggested that the expected bearish sentiment global investment and investors that the underlying shares lose value.

The shares of the stock market is trading between $ 15.09 and $ 16.52. Today, the volume of 86,801,336 shares of the average volume of 78,635,104 shares.

Frankfurter Allgemeine Zeitung is trading above the moving average by an average of 50 days but less than 200 moving day. The stock 52-week low is $ 10.78, and 52-week high is $ 59.70.

eBay Inc. (EBAY) is the second largest company in the industry catalog and mail order houses behind --- --- AMZN (based on market capitalization), and has been doing well lately. As recent stock performance of eBay, EBAY has lost $ 2.39 (10.05 percent) during the last month and is currently trading below its average of 20 days, 50 days and 200 days in motion.

Shares of eBay Inc. closed at $ 21.59 at the previous meeting and opened today at $ 21.80. EBAY is currently trading at $ 21.38, down $ 0.21 (-0.97%) in today's trading session. Shares of the stock is trading between $ 21.30 and $ 22.04. Today the volume of 15,860,737 shares is less than the average volume of 18,638,400 shares. EBAY is trading below the 50-day moving average and below the 200-day moving average. The 52 week stock low is $ 15.77 and 52 week high is $ 28.37.

Another piece of information

Former eBay managing director joins Collect+

Lewis started his career in advertising at St. Luke's before working for Boston Consulting Group, focusing on marketing and strategy projects for the retail and consumer goods industry.

Source:prnewswire.com
MAMARONECK, N.Y., May 25 /PRNewswire/ -- About a year and a half ago, Tyco International, Ltd. conducted a cultural diagnostic survey to assess what its employees were thinking about ethics and compliance.

There was good news and bad news. At the top of the company—e.g., senior managers—there was strong support for ethics and compliance, recalls Matthew O. Tanzer, the company's vice president and chief compliance counsel.

But in the lower reaches, things were different. While "not terrible," support for ethics and compliance was softer.

That survey, developed by the Conference Board's Council on Corporate Ethics and Compliance, served as a "wake-up call," recalls Tanzer.

Admittedly, one might find this sort of ethics gap at many companies. But Tyco wanted to do better with its middle managers, supervisors, and "ground-level" employees.

(Tyco, with about 100,000 employees, specializes in security and protection devices and has U.S. headquarters in Princeton, N.J.)

The stock markets have been volatile recently, and only on Monday, the NYSE composite index fell by 1.6%. Last month, the index fell by 13.4% to a growth of 2.8% of the spot price of gold compared to the New York Mercantile Exchange. In the same period, won gold and Barrick Gold Corp. about 1.63% and 1.58%, while Newmont fell 1.43%.

These five stocks of gold provide an attractive opportunity for investors to overcome the uncertainty in the equity markets. Due to their stable income such as dividends, these gold reserves low beta, which increase or decrease (in percent) less than the indexes have meant.

By market capitalization, are the three most important gold producer Barrick Gold Corp. and Newmont Gold. Betas are 0.67, 0.67 and 0.80, respectively.

Halliburton (NYSE:HAL) on April 30, 2010 at $30.24. In approximately 3 weeks, Halliburton has returned 13.4% as of today's recent price of $26.18.

Halliburton is currently below its 50-day moving average of $30.85 and below its 200-day moving average of $29.30. Look for these moving averages to decline to confirm the company's downward momentum.

"This catastrophe appears to have been caused by a calamitous series of equipment and operational failures. If the largest oil and oil services companies in the world had been more careful, 11 lives might have been saved and our coastlines protected."

But Waxman immediately focused on Halliburton's cementing job as the first in a complex chain of events that ended with an explosion and fire April 20 that left 11 men missing and presumed dead and started a spill of 5,000 barrels per day that now threatens the coastlines of Louisiana, Mississippi, Alabama and Florida.

“Before, during or after the cement job, an undetected influx of hydrocarbons entered the wellbore,” Waxman said. "What this means is that there was a breach somewhere in well integrity that allowed methane gas and possibly other hydrocarbons to enter the well."

Source:barrons.com
SPRINT'S FIRST-MOVER STATUS could draw new customers to Sprint's network and convince existing customers to stay: "Hot phones are clearly an important factor in adding and keeping customers," says Raymond James analyst Ric Prentiss.

As its total subscriber count grows, Sprint's revenue and Ebitda (earnings before interest, taxes, depreciation and amortization) should stabilize, leading its shares higher. Sprint's bottom line remains in the red, owing to high levels of depreciation, but the company is producing significant cash. Jonathan Chaplin, an analyst with Credit Suisse, estimates that Sprint in 2010 will generate $2.2 billion in free cash flow, the annual funds left over after Sprint has met all its obligations, including interest payments and investments in infrastructure. But with the shares at a recent $4.58, the market is still not giving Sprint credit for the strong cash flow. Sprint trades at a so-called free cash flow yield of near 20%, compared to about 10% for rivals AT&T and Verizon.

Chaplin thinks that Sprint could more reasonably fetch a 14% free-cash-flow yield, still a significant discount to its peers, putting the stock at $6.

Barron's already has endorsed Sprint stock in recent months (see Michael Santoli's "Sprint Nextel Starts to Hit Its Stride," Dec. 7, 2009), but first-quarter results and the June 4 launch of the Evo 4G phone brings new reason for optimism.

In late April, Sprint posted quarterly revenue and Ebitda slightly ahead of the consensus estimate. On the postpaid side of the business, where contracts are required and Sprint has struggled, the company's net subscriber losses also were slightly lower than expected, according to Credit Suisse estimates.

EMC Corporation. (NYSE: EMC) was included by an analyst in Barron's over the weekend with a goal of $ 24 and $ 27 price possible, in addition to your letter is still the core of EMC, after VMware (NYSE: VMW) game is considered as being a situation where you buy from EMC for about $ 8.50. With about $ 17.96, EMC's 52-week range is $ 11.51 to $ 20.00. If the market is not out of line again on Monday, EMC may see a rise of 2% in this article, although much of the argument is known.

(Stock market today)The examination of Joseph Cassano, who headed the unit of AIG Financial Products in London, concentrated with Andrew Forster and Tom Athan, reported the newspaper in its online edition.

Federal agents suspected that the men had misled investors and auditors AIG exposure of the company's credit default swaps, which were partially linked to mortgages, the paper said, citing anonymous sources familiar with the matter.

AIG Financial Products, such as insurance rather than with other financial institutions as economically disastrous for AIG. When the subprime market imploded, AIG had guaranteed to dozens of billions of dollars into the hands of financial institutions that contracts known as credit default swap with AIG had. These guarantees calls almost brought the company and led to massive government intervention has caused outrage in the population and political control.

The Department of Justice has so far been unsuccessful test had no offense in financial firms amid the financial crisis. In the case of securities fraud in the first and the only Wall Street executives who were for the credit crisis, two former managers of hedge funds of Bear Stearns during the trial after the accused acquitted misleading investors collapsed their funds only.

But the efforts continue. Prosecutors in Manhattan to investigate whether big Wall Street firms misled investors about the complex derivatives linked to mortgages, according to people familiar with the matter said.

Source:crn.com

Advanced Micro Devices (NYSE:AMD)’ first-quarter share gains in the discrete and integrated graphics market came at the expense of rival GPU-maker Nvidia (NSDQ:NVDA), according to a report by industry watcher Mercury Research.

AMD, headquartered in Sunnyvale, Calif., gained 8.2 share points in the discrete graphics market in the first quarter of 2010, lifting the chip maker to a 42.1 percent overall share of that market. Nvidia lost 8.2 share points during that same period, according to the research firm.

Source:http://blogs.barrons.com/techtraderdaily/2010/05/21/sirius-lazard-capital-raises-2010-estimates/

Among the revisions, the satellite radio operator raised its 2010 net subscriber growth estimate by 250,000 to 750,000.

Today Crockett raised his 2010 subscriber growth figure to 754,000 from 613,000. He also now forecasts pro forma revenue of $2.76 billion, pro forma adjusted Ebitda of $598 million and free cash flow of $107 million, up from $2.73 billion, $597 million and $22 million, respectively.

Source:zawya.com

RIYADH, Saudi Arabia, 22 May 2010: Cisco announced today that the Saudi Telecom Company, a leader in providing integrated communications services in the Kingdom of Saudi Arabia, has chosen Cisco technology solutions to introduce managed data center services to the Saudi market.

The contract, which will be delivered by Cisco partner Wipro, represents the first Vblock Infrastructure Package (VIP) win for Cisco in the Middle East region, involving the strategic collaboration that combines best-of-breed virtualization, networking, compute and storage technologies from Cisco, EMC and VMware, with end-to-end vendor accountability.

Data centers are changing in architecture, new technologies, application architectures, regulations, efficiency focus, and application and workload demands. These changes are causing one of the most comprehensive IT infrastructure transformations in the past decade. Cisco Managed Data Center services will enable the STC to meet the challenge to address these changes.

IRVINE, Calif., 20 August - Broadcom Corporation BRCM a global leader in semiconductors for wired and wireless communications, today announced its quarterly cash dividend will be paid at $ 0.08 per share next holders of ordinary shares of the company. The dividend was declared by the board today and paid for, June 21, 2010 to shareholders of record of Class in Company A and Class B common to the close of business on the 4th June 2010.

The declared dividend is paid from sources other than the U.S. domestic revenue reserves of the company and is used for accounting purposes, a reduction of shareholders' equity are treated.

Broadcom cash dividends and payment of future cash dividends, which have the political will, with the Board that the dividend policy and declaration of dividends in the best interest of shareholders Broadcom remains committed and comply with all applicable laws and agreements Broadcom for the declaration and payment of dividends.

The announcement this week, Juniper Networks routers and switches designed to balance and simplify existing networks is the latest indication that the company was not the intention, on the face of growing competition from Cisco Data Center, HP and other backtrack.

Deploying Juniper targets Cisco Nexus products and other network data centers, while the ground for the project Stratus Juniper, a network of focal data presented in the spring of 2009, but after eight of 12 months after delivery.

Juniper tries to optimize its product range with the increasing use of computing and virtualization technologies in the intensive networking sites.

The challenge for virtualization Cisco Juniper was attacked on the side of the networks in recent years, while the Titans servers such as HP and IBM - a partner in the Juniper Stratus - You have to resolve this problem, also calculate longer.Meanwhile page said Brocade that strengthening the fabric of data centers with partners for years and that Juniper is still vague, as is already existing storage networks.

Juniper Sun should at the earliest possible stage in the bold statements delivered this week, last fall at the customer site and NYSE over a year ago at the launch of Stratus.

Source:businessweek.com

European shares fell to a low level of concern for more than eight months ago that the regions governments a common position on how the debt crisis to solve.Asian stocks fell for a sixth day and future United States Index dropped.

TrygVesta A/S, the Nordic region’s second-largest property and casualty insurer, tumbled 8.7 percent after reporting a surprise first-quarter loss. Lanxess AG and K+S AG slid more than 3 percent as analysts downgraded the shares. The VStoxx Index, which measures the cost of protecting against declines in the Euro Stoxx 50 Index, jumped 9.4 percent to 54.56, on course for the highest close in 16 months.

The benchmark Stoxx Europe 600 Index declined 2.7 percent to 231.88 at 12:48 p.m. in London, the lowest level since September, after the U.S. Standard & Poor’s 500 Index yesterday plunged the most in 14 months. The Stoxx 600 has slumped 6.6 percent this week, on course for the fifth weekly decline in six, amid concern that Europe’s debt crisis will hurt the economic recovery.

Quarter net income of Wal-Mart first 10 percent of the world's largest retailer has benefited from cost cutting and strong growth into international affairs.

Cisco has recently been his intention, Motorcycle Development Group in San Francisco were to purchase. In the first quarter, Ford, GM nearly $ 1250000000 in business operations, a major change in the billions lost in their market in recent years.

Sirius XM once on the brink of bankruptcy, have raised on Monday its financial forecasts for 2010 auto sales in the U.S. are strong.

Micro stock of the CAP have fire lately. In recent weeks we have stocks of CAP microphone that profits had seen 100% more than 2600%. Our reports are free daily news and the volume of alerts, the last 52 weeks, up / down technique eruptions and other market driving information.

Source:winnipegfreepress.com

OTTAWA - Zarlink Semiconductor (TSX:ZL) said Monday it is narrowing its focus with the US$15-million cash sale of its optical products group to Tyco Electronics (NYSE:TEL).

The Ottawa-based company said it will now work toward building a more profitable business by targeting growth initiatives in the network timing, medical wireless and line circuit markets.

"The sale of our optical products group follows our strategy of narrowing our focus to markets where we can maintain a strong leadership position, while improving operational efficiencies to build a more profitable business," stated chief executive Kirk Mandy.

Source:mysmartrend.com

QUALCOMM (NASDAQ:QCOM) traded in a range yesterday that spanned from a low of $36.90 to a high of $38.04. Yesterday, the shares fell 1.74%, which took the trading range below the 3-day low of $37.05 on volume of 19.7 million shares.

Shares of QUALCOMM are currently trading below their 50-day moving average (MA) of $40.09 and below their 200-day MA of $43.10. Look for these MAs to provide resistance for a short-term rebound in the shares.

Source:marketwatch.com

CORNING, N.Y., May 17, 2010 (BUSINESS WIRE) -- Corning Incorporated /quotes/comstock/13*!glw/quotes/nls/glw (GLW 17.90, -0.06, -0.33%) President and Chief Operating Officer Peter F. Volanakis will tell investors today that "all of our businesses, including our equity ventures, are on track with our expectations for the second quarter" when he speaks at the J.P. Morgan Technology Conference in Boston at 8:40 a.m. Corning's comments at the conference can be heard via webcast at www.corning.com/investor_relations.

Industry data indicates that retail demand for LCD TVs, notebooks, and monitors remains robust. April LCD TV unit sales increased 13% in the U.S. over last year. Similarly, unit sales in Europe and Japan increased 22% and 44%, respectively. "These growth rates continue to run ahead of our internal forecasts," Volanakis will say. The retail data is the result of reports from a variety of independent consumer market research organizations (NPD, GFK and CMM) and the company's internal analysis.

In China, LCD TV demand appears to remain strong as well. "We do not yet have April retail data for China, but there are no indications that consumers' appetite has abated," Volanakis will say. "Incentive programs continue and retail prices are very attractive. As a result, we still see 37 million LCD TV unit sales in China this year."

Source:businessweek.com

Warren Buffett’s Berkshire Hathaway Inc. posted its highest quarterly revenue in three years on the takeover of railroad Burlington Northern Santa Fe and a recovery in sales of diamonds, luxury flights and recreational vehicles.

Revenue in the first three months of the year jumped 41 percent to $32 billion from $22.8 billion in the same period of 2009, Berkshire said May 7 in a filing. Burlington Northern added $2.1 billion, while sales and service revenue contributed $1.2 billion more than in the prior-year period. The revenue total compares with $32.9 billion in the first quarter of 2007, when insurance premiums fueled a 45 percent gain.

The $27 billion acquisition of Burlington Northern in February, the biggest of Buffett’s career, gives Berkshire revenue from freight-hauling that increases as the economy expands. It also provides an additional source of income as Omaha, Nebraska-based Berkshire curbs its insurance coverage amid declining rates.

Source:mysmartrend.com

QLogic (NASDAQ:QLGC) traded in a range yesterday that spanned from a low of $18.64 to a high of $19.31. Yesterday, the shares fell 2.02%, which took the trading range below the 3-day low of $19.02 on volume of 3.3 million shares.

Shares of QLogic are currently trading below their 50-day moving average (MA) of $20.23 and should find support at their 200-day MA of $18.19. Look for these MAs to provide resistance for a short-term rebound in the shares.

Source:finance.yahoo.com

Highlights

- Ivanhoe Energy completed its winter delineation drilling program at Tamarack in mid-March. This 28-well drilling program completed the work required for submission of the regulatory application for the development of the Tamarack Project which is expected to be filed in mid-2010. Ivanhoe Energy invested $17.9 million in the Tamarack Project during the first quarter of 2010.

- Steaming and soaking operations have been completed at the Pungarayacu IP-15 well, the Company's initial well in Ecuador. Production testing of the Hollin formation, utilizing a jet pump, has commenced and will continue for approximately two to three weeks to determine the oil flow rate of the well. Total investment in Ecuador for the first quarter of 2010 was $4.2 million.

- Ivanhoe Energy pledged up to $1.0 million in aid for victims of torrential rains and flooding in Ecuador's Napo Province. Several communities within the boundaries of Ivanhoe Energy's Pungarayacu heavy oil project were covered by a state of emergency declared by the Ecuadorean government after rivers flooded in mid-April 2010, reportedly destroying food crops and more than 100 houses, and directly affecting more than 3,500 people, according to estimates by government agencies.

Central Hosting Managed hosting services enable enterprise customers to gain cost advantages and performance and reliability through the elimination of the house by the server computer is expensive and reduce information technology (IT) management systems.

Company cloud-based service supports a variety of applications and services across the data center space for high quality western and eastern shores, a 24x7 operations staff, the state of the server resources and last-generation management systems experts. Host-plant currently has three data centers in Silicon Valley and a computer center in New York.

Valuation Metrics: 8x8 purchased Central for 1.44 to 1.6 X annual revenues. Personally I thought that valuation was light. This deal is much closer to the 2X TDS/VISI deal. It looks like the market is going in a good direction.

8x8 Chairman and CEO Bryan Martin said in a prepared statement: “Central Host's customers are ideal targets for 8x8's communications services, and we believe that many of 8x8's existing customers will benefit from the performance attributes and disruptive pricing of the Central Host offerings,”

Shares of Priceline.com Incorporated (Nasdaq: PCLN) fell almost 12% to $ 220.25 per share on Monday during operations after hours.

Priceline.com Inc. on Monday after the market closes that just the consensus of Wall Street, in the first quarter, but warned that the result would be in the second quarter under the pressure of the interruption caused by the volcanic ash spread of Iceland, currency fluctuations cause for concern 鈧?and the ongoing unrest in Thailand.

CEO Recent Trades:

-- Sell:: President and CEO Jeffery H Boyd sold 27,357 shares of PCLN stock on 03/08/2010 at the average price of 233.38, the price of the stock has decreased by 8.78% since.

-- Sell:: President and CEO Jeffery H Boyd sold 50,000 shares of PCLN stock on 02/23/2010 at the average price of 225.82, the price of the stock has decreased by 5.73% since.

Source:investor.zixcorp.com
Zixit Corp. has a market cap of $147.6 million; its shares were traded at around $2.31 with and P/S ratio of 4.8.

Combined Expertise Mitigates Email Risks and Increases Compliance for Healthcare Organizations

LONDON and DALLAS, May 12 /PRNewswire/ -- Insurance broker Lockton has teamed with Zix Corporation (ZixCorp) (Nasdaq: ZIXI), the leading email encryption service provider, in an innovative relationship to assist healthcare organizations in reducing data breaches and cyber liability.

For healthcare organizations that have elected cyber liability insurance coverage, Lockton will offer access to one of the ZixCorp® best-in-class email encryption services, ZixAuditor®, which highlights organizations' exposures to data breaches and outsourced risks. The combined offering will help healthcare organizations comply with the Health Information Technology for Economic and Clinical Health (HITECH) Act.

AT&T this week announced that its high-speed HSPA+ data network upgrade will bring theoretical maximum 14.4Mbps download speeds to more than 250 million Americans by the end of 2010.

AT &T has increased to a significant upgrade to its network this year, their data rates. AT&T Chairman and Chief Executive Officer John Stankey in New York recently announced that the network gives you up to HSPA +, the theoretical maximum speed of 14.4 Mbit / s download from AT & T. has Canelones plan is to 250 million people by the end cover of the year.

The good news is that users need to make significant improvements in the speed of the data, particularly the use of equipment with a capacity of 7.2 Mbit / s iPhone 3G, but now arent in these areas. The coverage and faster speeds that will eventually leave AT &T's reputation for poor quality behind it? And how do they compare T-Mobile WiMAX and HSPA + efforts Sprint plans? Meanwhile, Verizon is conducting trials for the upcoming LTE network and the initial results are encouraging. For the moment, so we just have to wait and see, but certainly keep our delusions.

Atmel (R) Corporation (NASDAQ: ATML), a leading microcontroller solutions and affect the availability of the production for the world's smallest flash AVR (R) announced microcontroller. The Atmel ATtiny4, ATtiny5, April ATtiny9, and ATtiny10 microcontroller (MCU) is in an ultra-small 8-Pad UDFN, with a size of only 2mm x 2mm x 0.6 mm and a weight of at least 8 mg reduced size of the package much as 55 percent on smaller parcels are being offered in the world today in comparison. These products are designed for applications in consumer electronics, lighting and industrial control markets. The new devices are designed for applications in a lightweight and small consumers of factors, such as cell phones, toys, toothbrushes, toiletries and other portable electronic devices ideal.

About Atmel

Atmel Corporation (Nasdaq: ATML) is a worldwide leader in the design and manufacture of microcontrollers, capacitive touch solutions, advanced logic, mixed-signal, nonvolatile memory and radio frequency (RF) components. Leveraging one of the industry's broadest intellectual property (IP) technology portfolios, Atmel is able to provide the electronics industry with complete system solutions focused on consumer, industrial, security, communications, computing and automotive markets.

It reached the point where a solid quarterly report is sometimes just enough to satisfy investors and analysts. When Cisco reported its third quarter results on Wednesday, the first reaction was positive, sending shares up about 3% by the end of the trading day.

However, the shares began to slide in after-hours trading, and continued on Thursday, slide, and the analysis of society became more complex. What led to the results that investors have to turn away from the satisfaction of the uncertainty?

U.S. stocks declined comment Thursday, while pessimistic about the economic systems of technology companies Cisco and retailer Kohl's Corp. doubt on the soundness of the U.S. recovery.

Cisco warnings on the labor market remains weak, and Kohl's, said that he was not convinced of the recovery was at hand to underline the pessimism of investors by fears of default on sovereign debt in the euro zone alreadly shaken. Cisco fell by 4.5 percent to $ US25.53 and Kohl lost 5.8 percent to $ US53.81.

The Dow's other top decliners included American Express, down 1.29, or 2.9%, to 42.81; Intel (Nasdaq), down 59 cents, or 2.6%, to 22.50, and General Electric, down 39 cents, or 2.1%, to 18.05. Just one Dow component ended in the black: Alcoa, up 34 cents, or 2.7%, to 12.80.

The Nasdaq Composite fell 30.66 points, or 1.26%, to 2394.36. The S&P 500 fell 14.23, or 1.21%, to 1157.44.