Technology issues were particularly hard hit, despite some strong earnings reports.

The earnings reports were better than expected at both companies.

The stock price rose in the weeks before the earnings report.

The company's earnings report was announced at the market's close.

But earnings reports did not tell the whole story yesterday.

Five days later, a bad earnings report drove the price down 9 percent in a single day.

American Express also lost ground despite a strong earnings report.

Companies by and large did do better than was expected on the eve of their earnings reports.

Earnings reports were coming in better than expected, analysts said.

But there were few other positive developments in the earnings report.

Maybe the company released a bad earnings report the next day.

But even on that basis, earnings reported yesterday were down 11 percent from $603 million a year ago.

Morgan Stanley will issue its earnings report the same day.

First-quarter earnings reported Thursday were about even with the period last year.

Forget, for a moment, what the drop might say about how inflated the earnings reported to shareholders have come to be.

These downgradings followed the surprisingly poor earnings reported for the sector in August.

Part of the reason, analysts say, is that the second-quarter earnings reported this week were solid, particularly in the technology sector.

Earnings of both disabled men and women declined in relation to all workers in the 1980's, the bureau reported.

The earnings reported yesterday by Polaroid were helped by a sharp 27 percent increase in overseas sales and lower taxes.

The write-offs do not directly affect the earnings reported to shareholders because they are charged against the loan-loss reserves.