Cisco, Netflix Lead Techs Lower

Cisco, Netflix Lead Techs Lower
Market News
Like Us On Facebook
Like Us On Facebook

Technology stocks slipped early Wednesday, led by slumping shares of Cisco Systems Inc. and Netflix Inc.

Cisco CSCO -2.02%  fell 1.7% to $18.26, one of the top decliners within the Dow Jones Industrial Average DJIA -0.79% , which lost more than 80 points at last check. 

Shares of Netflix NFLX -2.62%  sank more than 2% to $69.

The Nasdaq Composite Index COMP -0.93%  retreated nearly 1% to 2,601. The Morgan Stanley High Tech 35 Index MSH -1.08%  was also down 1%, while the Philadelphia Semiconductor Index SOX -1.15%  was off 1.1%.

Major chip shares traded broadly in the red, including Advanced Micro Devices AMD -1.99% , off 1.5%; Texas Instruments TXN -1.28% , down 1.3%; and Nvidia Corp.NVDA -1.71% , off 1.2%.

Hardware companies also saw their shares sink, including Hewlett-Packard HPQ -1.31%  , Dell Inc. DELL -1.28%  and Apple Inc. AAPL -0.34% .

In the software sector, shares of Oracle Corp. ORCL -0.59%  moved down 1%, while Microsoft Corp. MSFT -0.19%  traded down a fraction.

On the upside, shares of Google Inc. GOOG +0.30%  managed a modest gain.

Benjamin Pimentel | Associated Press

Share Tweet
React
Like Us On Facebook
Like Us On Facebook

Preston Waters

Preston Waters is a thinker. He's not your traditional philosophical persona, however, as he leaves no topic untouched. Covering all the bases, from business to women, Preston Waters is the ultimate man's man for Gen-Y.

More In Market News

News Preston Waters

Stocks Off to Stellar Start in May

Stocks were kicking off May in high style Tuesday, posting sharp gains after a much better-than-expected report on U.S. manufacturing activity. The Dow Jones Industrial Average was rising 103 points, or 0.8%, at 13,317, after hitting a four-year high at 13,338. The S&P 500 was up 14 points, or 1%, at 1413, and the Nasdaq was adding 23 points, or 0.7%, at […]

News Preston Waters

Bank Of America, JPMorgan: Dow Midday Movers

U.S. stocks were rising in midday action Tuesday following a better-than-expected read on U.S. manufacturing activity.The Dow Jones Industrial Average was up more than 116 points, or 0.9%, at 13,330. The biggest percentage gainers within the Dow were Bank of America (BAC), JPMorgan Chase (JPM) and Intel (INTC). Shares of Bank of America rose 2.59% to $8.32. The bank said Tuesday it plans to lay […]

News Preston Waters

Monster Stocks Soar Amid Rumors Coca-Cola Is Set To Buy Energy Drink

Monster Beverage Corp’s shares soared on Monday following a report that Coca-Cola Co. was considering buying the energy drink maker. The Wall Street Journal cited unnamed people in reporting that the world’s biggest soft drink maker was in talks to buy Monster. If a deal transpired, Monster would be Coca-Cola’s largest brand acquisition ever. Monster declined […]

News Preston Waters

Stocks Surge After Strong Manufacturing Report

Stocks were surging in morning action Tuesday after a much better-than-expected report on the pace of national manufacturing activity in April.The Dow Jones Industrial Average was rising 80 points, or 0.6%, at 13,294. The S&P 500 was up 12 points, or 0.8%, at 1410, and the Nasdaq was adding 29 points, or 1%, at 3075. Stocks finished modestly lower Monday, marking […]

News Preston Waters

Bank Of America Keeps Shrinking

Bank of America (BAC)’s plan to lay off some of its highest-paid executives looks like the right response to the current banking environment. The Wall Street Journal reported Tuesday the bank will cut 2,000 positions in its investment banking, commercial banking and non-U.S. wealth-management units targeting “the high-earning employees whose efforts helped Merrill Lynch account for the bulk of […]

News Preston Waters

Stock Market Story: May 1

The first trading day of May got off to a mixed start early Tuesday with all three major U.S. equity indices honing to close to the flat line ahead of a key report on the pace of U.S. manufacturing activity in April. The Dow Jones Industrial Average was down 9.5 points, or 0.07%, at 13,204.The S&P 500 was up less than a […]

Also On Elite

Film

This Is What The 90s Version Of The Rock Would Look Like In His Movies (Photos)

If you haven’t seen it yet, you really owe it to yourself to check out the 90s photo of Dwayne “The Rock” Johnson with a full-on turtleneck and fanny pack. It’s an excellent photo, and now two geniuses by the names of Todd Spence and Michael Kolander, have Photoshopped this old-school version of The Rock into […]

Life

#WholeFoodHacks: 6 Ways To Make Sure You Win At Whole Foods

Ah, Whole Foods. Home to overpriced kombucha, yummy mummies, carrying the invariable yoga mats and salad bars so appetizing you could eat there for days. There’s a lot to love about Whole Foods. The variety is amazing, you feel healthy and virtuous and the sales assistants are actually pretty helpful. (Verging on super smug and […]

TV

Arsenio Hall Says We’d Know More If Justin Bieber Was The One Shot In Tupac’s Car

It’s crazy to think that it’s almost been 20 years since Tupac was shot, and we still don’t know who did it. The circumstances surrounding Pac’s death are notoriously shady, and many theories abound about his killer and his or her motives. But, according to a new documentary airing on the National Geographic channel called […]

TV

A Walter White Bobblehead Doll Is In Space To Bring Meth To Aliens (Video)

A Walter White bobblehead doll has gone somewhere no doll has gone before: 85,000 feet above Earth. And lucky for us, its entire journey was recorded, giving us what has to be the most bizarre video we didn’t know we wanted to watch. TVtag users voted Walter White to be the company’s first space ambassador. […]

Life

Failure To Launch: 8 Ways To Stay Motivated, Not Stunted, During Your First Job

Recent graduates are facing the paralyzing fear that their lives are destined to be ordinary for at least the next couple of years. How do I know this? Well, I’m smack-dab in the middle of this realization. Like many friends, I’ve graduated with an immense amount of energy, excitement and motivation to fulfill my dreams […]

Sports

This Photo Contains Every Single One Of Tim Howard’s Legendary 16 Saves

There’s no other way to put it: Tim Howard’s performance the other day against Belgium was unreal. So good that the highest of powers in the nation had to stop and recognize his greatness. President Barack Obama and US Secretary of Defense Chuck Hagel both took the opportunity to individually call out Tim Howard and congratulate […]