(FOOL GLOBAL WIRE) LEXINGTON, Ky. (June 20): The Nasdaq was hammered again today on fears that corporate earnings are going to be disappointing. Especially hard hit were some technology issues and health management companies.
United HealthCare <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:UNH)") else Response.Write("(NYSE:UNH)") end if %>, for example, plunged further today after other managed care companies warned of poor earnings. Today's announcement from RightCHOICE on top of Humana's recent warning was enough to send the sector into a tailspin.
Apparently it was also enough to prompt Cowen & Co. to cut its rating on United HealthCare from Buy to Neutral.
Oracle Corp. <% if gsSubBrand = "aolsnapshot" then Response.Write("(NASDAQ:ORCL)") else Response.Write("(NASDAQ:ORCL)") end if %> continues to announce new product after new product. (You'd think it was Rubbermaid or something.) Today Oracle debuted its new collaboration software, Oracle InterOffice. The product provides a platform to develop and deploy applications that integrate collaborative data and operational data, including messages, documents, video OLAP, and workflow. This is the first collaborative software to be based on Oracle Universal Server.
And finally, Computer Associates <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE:CA)") else Response.Write("(NYSE:CA)") end if %> continues its recent bounce after an analyst upgrade earlier this week. The company also announced some new clients agreements today.
If you're taking on water as a result of the stormy weather for the Nasdaq, check out my Foolish Four write-up for today. You might want to consider a little ballast to keep your ship on course. All aboard!
Transmitted: 6/20/96 | ||||||||
INVESTING FOR GROWTH MODEL (6/20/96) | ||||||||
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