Nasdaq slumps erase 2004 gains as stocks slide
In New York, fears of weak job growth and a sluggish economy drove a broad selloff. The Nasdaq composite fell 13.62 to 1995.16, wiping out all gains for 2004, while the Dow slipped 72.52 to 10456.96 and the S&P 500 declined 6.63 to 1140.58. Analysts warned the rally may be ending.
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Albertsons Reports 37 Percent Drop in Q4 Earnings
Albertsons Inc. posted a net income of 130 million dollars for the November to January quarter, down from 205 million the previous year. Revenue was 8.65 billion, as an extended Southern California labor dispute reduced cash flow amid a tougher market environment. Chief executive Larry Johnston called 2003 challenging, noting a recovering economy and heightened competition.
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Albertsons Inc
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Larry Johnston
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