AMD falls nearly 10 percent, broader markets mixed

Advance Micro Devices drops nearly 10 percent, following the release of the company's third quarter results. Broader markets, meanwhile, remained mixed.

Advanced Micro Devices falls nearly 10 percent on Thursday, as the broader markets pull in competing directions.

AMD declined 9.7 percent to $3.27 a share, following the release of its third quarter results the previous day.

The chip maker may have found some comfort in that its share price didn't plunge as far as Cadence Design Systems, which fell a whopping 25.5 percent to $3.22 a share. Cadence took a hit, after the company disclosed it expects to restate its financial results for the first quarter and first half of the year, as it investigates possible problems with revenue recognition, according to a report in the Wall Street Journal.

These stocks mirrored the red ink found on the Nasdaq, which closed down 11.84 points to 1,603.91.

Although the tech-heavy Nasdaq closed down, the CNET Tech Index closed up 8.99 points to end the day at 1,122.98.

And it wasn't alone. The Dow Jones Industrial average closed up 172.04 points to 8,691.25, while the S&P 500 ended the day up 11.33 points to close at 908.11.

About the author

    Dawn Kawamoto covered enterprise security and financial news relating to technology for CNET News.

     

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