U.S. stocks drop in early trading as Google fails to impress

09:00, April 19, 2010      

Email | Print | Subscribe | Comments | Forum 

Wall Street dropped in early trading Friday as earnings reports from some major technology companies weighed on the market.

Google fell about 5 percent after the search engine giant reported first-quarter profits that fell short of some analysts’estimates.

Google said its net income rose 37 percent in the first three months of the year, showing the online advertising and technology sectors are bouncing back from the recession more quickly than many other parts of the economy.

However, Google’s performance wasn’t enough to live up to the high expectations, which were boosted even further by strong earnings from Intel.

Meanwhile, shares of Advanced Micro Devices also plummeted after the chip maker said it expects revenue in the current period to decline by as much as 5 percent from the first quarter.

Data from the housing market provided some support for Wall Street. The Commerce Department said before the opening bell that housing starts increased 1.6 percent to a seasonally adjusted 626,000 annual rate, higher than analysts had expected.

The Dow Jones industrial average fell 23.58 points, or 0.21 percent, to 11,120.99. The Standard & Poor's 500 index dropped 5.38, or 0.44 percent, to 1206.29 and the Nasdaq was down 14.00, or 0.56 percent, to 2,501.69.



  • Do you have anything to say?


Special Coverage
  • Premier Wen Jiabao visits Hungary, Britain, Germany
  • From drought to floods
Major headlines
Editor's Pick
  • On Sept. 26, a resident passes by a flower terrace decorated for the coming National Day. (Xinhua/Hang Xingwei)
  • The photo, taken on Sept. 26, shows the SWAT team ready for the joint exercise. (Xinhua/Wangkai)
  • Two metro trains in Shanghai collided Tuesday afternoon, and an identified number of passengers were injured in the accident, the Shanghai-based eastday.com reported. Equipment failures were believed to have caused the crash on the Line 10 subway, Xinhua quoted local subway operator as saying.
  • An employee at a gold store in Yiwu, located in east China's Zhejiang province, shows gold jewelry on Monday.(Xinhua/Zhang Jiancheng)
  • Tourists ride camels near China's largest desert lake Hongjiannao in Yulin, north China's Shaanx Province, Sept. 24, 2011. Hongjiannao is shrinking as a result of climate change and human activities, and may vanish in a few decades. Its lake area, which measured more than 6,700 hectares in 1996, has shrunk to 4,180 hectares. Its water level is declining by 20-30 centimeters annually and its water PH value has risen to 9.0-9.42 from 7.4-7.8. (Xinhua/Liu Yu)
  • Actors perform royal dance at the Gyeongbok Palace in Seoul, Sept. 27, 2011. A ceremony commemorating the 38th South Korea Sightseeing Day was held in Gyeongbok Palace on Tuesday. (Xinhua/He Lulu)
Hot Forum Discussion