Nasdaq---Anthony (slow)
>> cisco shares downgraded to a rating of neutral from a previous rating of outperform. in fact, he says we see no reason to have raise the 12-month price target of the cisco, which is $17.50. when you see their shares now, $16.75. so that’s not too far from his 12-month price target. shares down 3% on the day. also, other networks stocks fell as well. juniper shares down. foundry networks down 2.5% on the day. also chip stocks were down. you know, deb pointed out the a.m.d. cutting its second-quarter forecast. p.n.c. sierra al had difficulty in that it received a downgrade from an analyst at u.s. bank corp piper jaffree. down about 6% on the day. and if you look at other chip stocks , it was a chip rout, if you will. every chip stock was down today, except for intel, which was up 11 cents. but a lot seemed to be down, especially broadcom and amkor technology. down 4% to 6% on today’s action. wanted to get to a couple of stocks . breaking news after the closing bell. verity says they see full-year earnings per share, only 33 cents to cents. analysts had been expecting 54 cents a share. so in the extended hours, they’re down almost 20% right now. in addition, palm came down with an operating loss of 30 cents a share that willive isless than a third of what analysts thought palm would lose. analysts expecting a 93 cent loss. and the company beat expectation on revenue as well. palm coming out with fourth quarter revenue of $226 million. analysts thought they would only report $188 million. so palm shares as we just saw up about 6% or 7% right now in the extended hours trading. that’s the latest from the nasdaq. nasdaq stocks the only three of the major indexes down on the day. back to you.
>> now while many on wall street are predicting a quarter-point cut tomorrow from the federal reserve, it may ultimately be what moves the market the most in the day ahead. we’ll talk to the former vice chairman of the federal reserve.
