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Market Update : 
Familiar Late Afternoon Sell-off
Author: 123jump.com Staff
123jump.com
Last Update: 4:49 PM EST December 19 2005

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Market played to a familiar tone of morning rally followed by a late afternoon sell-off. Tech stocks rallied in the morning only to face few semiconductor stocks downgrades. Retailers advanced on strong weekend buying from consumers. Gold rose, oil fell but natural gas rose at close. Google rose to all-time high of $446 before tracking all the way back to $426. Google was added to Nasdaq 100 index.

 
EARNINGS NEWS

Circuit City Stores (CC: chart), consumer electronics retailer, reported Q3 earnings from continuing operations of 6 cents a share, up from an equivalent loss of 3 cents a share a year-earlier. Sales advanced 14% and same-store sales advanced 13.1%. The company topped analyst estimate for a profit of 4 cents a share.
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