Author: Elena Todorova
123jump.com
Last Update: 11:31 AM EST February 10 2006
Stocks opened in the negative, dragged by disappointing outlook from Dow component Pfizer and record-high trade deficit for 2005. Pfizer projected flat sales for 2006 and earnings of $2 a share, below estimates of $2.03. Oracle revealed that it had closed its $5.9 billion acquisition of Siebel Systems and will cut 2,000 jobs. The company gave a profit outlook for the remainder of the year roughly in line with estimates.
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