Author: Elena Todorova
123jump.com
Last Update: 11:49 AM EDT July 07 2006
The industrial conglomerate 3M contributed to the weakness of Dow with a decline of 7% after it cut its Q2 and 2006 profit forecasts due to lower-than-expected sales. Advanced Micro Devices Inc. fell 65 cents to $23.18 after cutting its revenue forecasts. The announcement also send Intel Corp. lower, down 12 cents at $18.73. Record oil prices also weighed, with traders worrying that higher energy prices would hurt consumer spending.
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