Stock market: weekly review.[E]

Wall Street closed last week mixed after hard Q-earnings reporting week. The main looser was Nasdaq; S&P 500 was in advance.
Prior week was in favour for Dow Jones Industrial Average. On Wednesday index rallied the most since 2003 bolstered by strong Q reports and dovish B.Bernanke speech. The Fed Chairman hinted on an imminent pause in a 2-years tightening policy. Higher rates as a rule has negative impact on corporate profits.
Microsoft gained 7.2% by the end of week despite it’s profit fell by 24% on higher costs and legal expenses, but the company announced a $40 billion share buyback program and issued a better than expected forecast for 2007.
Apple Computer firmed 20.6% after quarterly profit rose 48% thanks to strong iPod and "Macintosh" computers sales.
Motorola advanced 9.1% as a highlights of strong Q-report testifying company earned 48% due to good sales.
Thus tech picture was much less impressive.
Yahoo! said Q-profit 78% drop, that, nevertheless, was awaited by analysts. Shares losses(-20%) were accompanied with a message on a new advertising platform presentation delay.
Dell lost 12.6% after the company warned Friday that it would miss earnings estimates because of aggressive pricing in a slower commercial market worldwide.
It was a hard week for chipmakers including Advanced Micro Devices (-11.5%). The chipmaker said Thursday that sales jumped but fell short of targets because of price wars with rival Intel(+3%).
Meanwhile JPMorgan Chase (+6.2%) gained on a strong profits report testifying investment bank earnings has tripled owing to successful banking and business credit cards business.
Dow components movers were headed by McDonald’s (+5.4%). The company informed about 5.9% sales rise in June exceeding expectation.
Weekly results: S&P 500 +0.7%; Nasdaq Composite -0.4% and Dow +1.4%.