|
Nasdaq higher; Dow flat
|
 |
June 19, 2001: 12:52 p.m. ET
Oracle gives boost to tech-laden composite; aerospace cuts Dow
|
NEW YORK (CNNfn) - The Nasdaq composite index rose broadly at midday Tuesday on the strength of a positive earnings outlook for software maker Oracle, but the Dow Jones industrial average straddled the breakeven line as tech gains were pressured by the aerospace sector.
At 12:49 p.m. ET, the Nasdaq gained 33.78 to 2,022.41. Leading the way was Oracle (ORCL: up $2.05 to $16.89, Research, Estimates) , which said that it expects to meet earnings estimates for the current quarter after slightly surpassing the forecast for the fourth quarter ended in May.
But the Dow industrials dipped 5.37 to 10,640.01, wavering between plus and minus for the day. The aerospace sector was the culprit, as the president of General Electric (GE: up $0.20 to $49.20, Research, Estimates) , the company that wants to buy Honeywell International (HON: down $2.48 to $37.52, Research, Estimates) , put the chance of the deal's approval by European regulators at "zero."
Besides Honeywell, other Dow aerospace components suffering Tuesday were Boeing (BA: down $2.48 to $62.40, Research, Estimates) and United Technologies (UTX: down $1.70 to $76.11, Research, Estimates) .
The Standard & Poor's 500 rose 7.96 to 1,216.39. 
|
|
|
Track your stocks
|
Note: Pages will open in a new browser window
External sites are not endorsed by CNNmoney
|
|
|
|
 |
|
