While you were sleeping: US earnings fall short

Tue, 10 Jul 2012

By Margreet Dietz July 11 (BusinessDesk) - Wall Street dropped as disappointing earnings reports fuelled concern that corporate America is struggling more than anticipated with the slowdown in European and Chinese economies. Shares of Advanced Micro Devices, a maker of processors for personal computers, shed 11 percent after posting an unexpected decline in sales. Shares of Applied Materials, meanwhile, fell more than 2 percent as the chipmaking-equipment provider lowered its forecasts because of sagging demand oversees. “Both China and Eur...

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