The Nasdaq 100 index slipped in midday trading Wednesday after FedEx Corp. stoked broader market fears about energy prices when it warned high costs and drooping demand may hamper fiscal 2009 profits.
The index, which includes 100 of the largest nonfinancial securities listed on the Nasdaq Stock Market, fell 15.16 points to 1,957.66 in midday trading. The broader Nasdaq composite fell 19.34 points to 2,438.39.
Shares of satellite TV company Dish Network Corp. fell $1.74, or 5.3 percent, to $31.28.
Shares of medical waste management company Stericycle Inc. lost $1.62, or 2.9 percent, to $54.76.
Shares of NII Holdings Inc., a wireless service company, decreased $1.36, or 2.6 percent, to $50.09.
On the gaining side, shares of Biogen Idec Inc. rose $1 to $59.35.
Shares of Fastenal Co. added 85 cents to $48.73. The company makes nuts, bolts, studs and other supplies.
Shares of Research in Motion Ltd., which makes the popular BlackBerry smartphone, added $1.64 to $143.80. A Lehman Brothers analyst boosted his price target and estimates on the company Wednesday.
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