Weak tech earnings flatten stocks

Stocks finished flat Thursday, dragged down by Cisco Systems Inc. and Akamai Technologies Inc. Both issued weak earnings forecasts, raising concerns about business and technology spending.

The Dow Jones industrial average ended an eight-day winning streak, entirely a result of Cisco's 14 percent drop. Other indexes managed slight gains.

Cisco, the world's largest networking equipment maker, had the largest fall of the 30 stocks that make up the Dow. The company said late Wednesday that its fourth-quarter income slid 18 percent because of lower sales to government agencies, a problem that could worsen over the next few quarters.

"Cisco is stumbling," said Rob Lutts, president and chief investment officer of Cabot Money Management. "When you're No. 1, it's hard to stay there."

Akamai Technologies fell 15 percent after saying competitors are forcing it to offer lower prices for its Web streaming services. It was the weakest performer among the Standard & Poor's 500 index.

The Dow lost 10.6 points, or 0.1 percent, to close at 12,229.29. The S&P 500 rose .99, or less than 0.1 percent, to 1,321.87. The Nasdaq composite rose 1.38, or .05 percent, to close at 2,790.45. - AP