Stocks ended lower yesterday, led by computer makers and traditional manufacturing companies, as a batch of earnings warnings raised questions about the strength of Corporate America's second-quarter results.
Among the earnings confessions, Unisys said its second-quarter earnings could be as much as 50 per cent below Wall Street expectations due to computer services supplier's weak sales and currency fluctuations. Unisys fell $8.44 to $14.75 (€15.50), wiping out more than a third of its market value. In another profit warning, the world's largest tire maker, Goodyear Tire & Rubber, said its quarterly profit would be about a third lower than Wall Street expectations, sending its stock down $2.06 to $21.25 (€22.33).
The Federal Reserve's hint, after keeping interest rates unchanged on Wednesday, that there may be further rate increases down the road added to the mood of uncertainty on Wall Street.
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