"Halliburton has personified the asbestos scare," said Rorer, who plans to issue a comprehensive report on Tuesday or Wednesday discussing the company's asbestos liability. Much of the report will be "applicable to other companies," he said.
PeopleSoft dropped US$3.48 to US$34.95 after the chief executive of the human-resources software maker said he hasn't yet seen a recovery in the economy.
PeopleSoft had gained 14 percent the past two days on optimism software spending was starting to improve. Upbeat comments earlier this week from competitors SAP AG and Siebel Systems Inc. had sparked the gains.
Siebel fell US$0.9 to US$36.80, and software makers were the biggest drag on the S&P 500.
Sanmina-SCI fell US$2.16 to US$15.03. The maker of electronics for other companies cut its profit estimates for the rest of its fiscal year, which runs through September, citing slower demand from customers such as Nortel Networks Corp.
JDS Uniphase Corp fell US$0.75 to US$7.14. "We still don't know with certainty where the bottom will be," said Anthony Muller, the company's chief financial officer.
The biggest maker of parts for fiber-optic equipment said it isn't sure sales in the current quarter, which are expected to decline as much as 8.7 percent from the fiscal second quarter, will mark the low point.
VeriSign Inc lost US$2.84 to US$33.41. The provider of Internet security and registration services said profit this quarter and year will fall short of expectations.
The Russell 2000 Index of smaller stocks slipped 0.12, or less than a 10th of a percent, to 479.61 on Friday.
The Wilshire 5000 Total Market Index, the broadest measure of US shares, rose 12.55, or 0.1 percent, to 10,578.56.
RSS