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CABLE WORLD STAFF
EARNINGS PRESSURE NET STOCKS - With the exception of ZDNet, which is being acquired by CNET, Net stocks across the board fell July 19 as concerns over earnings pulled the market lower after investors bid shares higher in anticipation of solid quarters.
The Goldman Sachs Internet Index lost 2.2%. The DJIA lost 0.4%, and the Nasdaq lost 2.2%. Microsoft shed 6.4% after reporting a 2Q profit of 44 cents, beating the First Call estimate of 42 cents. Microsoft made 40 cents a share in the year-ago quarter.
Intel shed 2.69 points, erasing earlier gains and registering a 2Q profit of $1 a share to beat the First Call estimate of 98 cents a share. RealNetworks gave up 13% after reporting better-than-expected 6 cents a share.
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