Late breaking earnings reports, including Apple, have caused the Dow futures to plunge 100 points in the past half hour. Those are after-the-close prices plunging on that chart! Apple's future earnings forecasts show signs of being wormy. Even though Apple beat estimates, the forecast shows surprising weakness and the stock price has weakened. SanDisk, Texas Instrument, and Schering-Plough have also disappointed analyst estimates. So much for the safety of tech sector stocks!
American Express is also weak. No good news for any of these stocks this evening.
Monday, July 21, 2008
One Wormy Apple -- Dow Futures Drop 100 Points!
