In a shocking development, the Nasdaq did NOT set a new record, instead slipping 26.61 to 3,268.91. Perhaps more interesting, it slipped on record volume of 1.6 billion shares. Bears say that if the market can't go up on that kind of volume, it must be really, really tired. This quiet Swedish telecom equipment maker sure got a lot of attention today. The company, which just issued its sixth earnings warning in the last 10 quarters, is definitely considered takeover bait.
Speculation is back.
And anything to do with China has been skyrocketing on the belief that a World Trade Organization agreement will turn everything that touches China into gold. And some of the old favorites are back, too. That beats estimates by 2 cents. Not bad at all. Yes, there's skepticism about Oracle's claims to be an Internet company.