After crossing the high 9000 psychological marker,stocks are slightly lower in the early friday market.Stocks are slightly lower in early trading Friday, as disappointing earnings news from companies like Microsoft Corp. and Amazon.com Inc. weigh on the market.
Microsoft shares dropped more than 7 percent after the tech giant said late Thursday its revenue fell short of analysts' expectations. Amazon.com also reported weaker-than-expected sales, and its shares fell more than 6 percent in early trading. (Source:Yahoo News)
Although the theme had been one of consistent reports of increased earnings by the companies,these had been achieved more by agressive cost-cutting strategies than increased sales but still, expectations that a recovery in the next quarter is iminent have not abated.
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