In corporate news, Applied Materials, which makes equipment for chipmakers, cut its fiscal year profit and sales estimates because of weak demand. The stock fell 30 cents to $10.71. AMD, the chip maker hurt by slumping sales in China, plunged 63 cents to $4.99.
Embattled BlackBerry maker Research in Motion fell 38 cents to $7.29. The company's CEO, Thorsten Heins, told a shareholders meeting that he isn't satisfied with the company's performance. Two weeks ago the company announced disappointing earnings, plans to cut 30 percent of its workforce and the latest delay in BlackBerry 10.
Alcoa lost 36 cents to $8.40 after a financial analyst cut his estimate for the company's 2012 earnings. Alcoa reported Monday that it beat analyst estimate for earnings in the second quarter but that revenue dropped due to slowing world demand for aluminum.
Two stocks fell for every one that rose on the New York Stock Exchange. Volume was lighter than average at 3.4 billion shares.
- Girls who play with Barbie may not see their...
- Dave Ramsey says: Don't waste your time,...
- Target data breach: Credit monitoring will...
- Going digital a giant leap for 'dollar theaters'
- Salt Lake Bees' stadium renamed Smith's Ballpark
- Demolition underway on major downtown office...
- Uintah County businesses still struggling one...
- Doug Robinson: Gail Miller — Carrying...
- Attempt to raise minimum wage in Utah... 28
- Dave Ramsey says: Don't waste your... 12
- Girls who play with Barbie may not see... 12
- About Utah: He came, he saw, he fit in 8
- Report: Utah made big money by keeping... 8
- Demolition underway on major downtown... 5
- Doug Robinson: Gail Miller —... 4
- Stericycle move to Tooele gets House... 4