U.S. stocks fall: Dow -0.45%, Nasdaq -0,78%, S&P -0.39% [E]

As expected, Wall Street opened with losses. Main reason of investors' 

pessimism was warning on earnings from 

telecommunication equipment producer Lucent Technologies. 

On Monday Lucent warned it expects earnings decrease in 

Q3 basically due to slowdown of equipment's sales in North America. 

Alcatel stocks, which is in process on purchase Lucent, fell 5 % at EU 

session while Lucent stocks sank about 3 %. 

This warning came on the heels of another disappointment from 

representatives of technology sector. The manufacturer of storage of 

databases' equipment EMC showed financial results missed itself forecasts. 

Also Dow component Alcoa put pressure upon the market. Company's 

earnings rose in Q2, however, revenue appeared worse than forecasts. It led 

to 5%shares decrease on EU session. 

Oil gains while the barrel of American oil light increased 26 cents to 

$73.88 per barrel, and  Brent oil rose on 21 cents to $73.10. 

Corporate news: Internet provider America Online expects the reduction 

of operation revenue on $1 bln. through 2009 because of the program 

on granting free-of-charge services to some clients, informs Wall 

Street Journal. However the edition also informs revenue of the company for 

this period will increase. 

Google plans to build office and research center in Ann Arbor 

(Michigan), where about 1,000 persons will work, New York Times writes.