So far so good, but check this out:
After The Market Close
4:11p ET November 11, 2010 (S&P)
Closing out the day... Stocks fell today as a disappointing outlook from Cisco Systems (CSCO) hurt technology shares and dragged down the broader market. Cisco shares plunged, erasing as much as $24 billion of the company's market value. The Internet-equipment maker offered a weaker-than-expected sales forecast, citing slowing demand from cable companies and government agencies. Cisco's results weighed on Hewlett-Packard (HPQ), Microsoft (MSFT) and International Business Machines (IBM). Investors also monitored the meeting of Group of 20 leaders in Seoul, South Korea, as world leaders neared an agreement that appears to paper over many differences but is unlikely to end tensions over currency and trade policies. Additionally, China reported higher-than-expected inflation and new bank lending in October. The figures put in question the government's ability to reach key economic targets it had set to contain risks from its stimulus program. Tomorrow will look to rebound with the Michigan Consumer Sentiment preliminary reading expected to be at 69 in November slightly higher than the 67.7 reading in July though still in recessionary territory. Among the high volume stocks Dell (DELL), Walt Disney (DIS), Hewlett Packard (HPQ), Boeing (BA) and Time Warner (TWX) moved lower while Sprint (S), Chevron (CVX), AMR Corp (AMR), Dendreon (DNDN) and CONSOL Energy (CNX) posted gains. The Chicago Board Options Exchange Volatility Index closed the day up 0.16 at $18.63 a 0.87% increase for the day. The Put/Call Volume Ratio is at 0.70 while the Put/Call Open Interest ratio is at 0.90.
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