BA says no evidence global IT outage caused by cyber attack
LONDON, May 27 British Airways said on Saturday there was no evidence that a global breakdown of its IT systems had been caused by a cyber attack.
NEW YORK May 23 Small- and mid-capitalization stocks fell on Monday after worse-than-expected results from companies including Tech Data Corp (TECD.O), with the indexes possibly headed for a period of seasonal weakness.
Shares of Tech Data dropped 11.8 percent to $47.23 after it reported first-quarter results that lagged analysts' expectations as margins contracted. For details, see [ID:nL3E7GN222]
Analysts have called for further weakness in the indexes during the summer, which is typically a tougher period for stocks in general.
"As we move into the seaonally unfavorable period -- sell in May and go away period -- you would likely have small-cap" stocks and other higher-beta categories of the market "come down more than the broader market," said Bruce Zaro, chief technical strategist, Delta Global Asset Management in Boston.
The S&P 600 small-cap index, "right now (is) in the middle of its trading band. It remains to be seen whether further technical downside takes hold."
If it moves below the current trading band of between 436 and 440, the next area of support would be 412 to 416, he said. It was at 438.23 in afternoon trading on Monday.
The S&P MidCap 400 index .MID fell 1.2 percent while the S&P SmallCap 600 index .SML declined 1.1 percent. In comparison, the benchmark S&P 500 .SPX was down 1 percent.
Among other top percentage decliners on the S&P 400 were Vishay Intertechnology (VSH.N), down 5.1 percent at $15.50, and Patriot Coal PCX.N, down 4.7 percent at $21.31.
On the S&P 600, Lawson Products (LAWS.O) was down 6.1 percent at $19.05.
(Reporting by Caroline Valetkevitch, Editing by Chizu Nomiyama
LONDON, May 27 British Airways said it had cancelled all flights from London's Heathrow and Gatwick airports scheduled before 1700 GMT on Saturday due to a global computer outage.
LONDON, May 27 British Airways flights in Britain were being delayed and passengers were suffering long waits at airports on Saturday because of a global system outage, the airline said.