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MIDDAY MARKETS: Earnings fail to lift techs

Another batch of earnings, including results from Sprint and Cypress Semiconductor, couldn't cheer techs at midday Tuesday. The Nasdaq tumbled 59.40 to 3,230.88 and the Dow Jones industrial average shed 101 to 10,137.80.

The Inter@ctive Week @Net Index fell 18 to 441.29.

Sprint (NYSE: FON), down 1 to 22.81, said earnings were 47 cents a share, just beating First Call Corp.'s estimate of 46 cents a share. Sprint PCS (NYSE: PCS) was down 1.50 to 30.25.

Cypress Semiconductor (NYSE: CY), down 4.37 to 32.31, easily topped analysts' estimates for the third quarter, posting a profit of $100.5 million, or 70 cents per share, on sales of $356.2 million.

Memory chip maker Micron Technology Inc. (NYSE:MU) plunged 4.88 to 28.81 as analysts cautioned that price erosion may signal slowing revenues ahead.

Shares of BroadVision (Nasdaq: BVSN), up 2.5 to 26.31, soared as much as 18 percent in morning trading on news the company would join the Standard & Poor's 500 index.

Marvell Technology Group Ltd. (Nasdaq: MRVL), down 23.38 to 58.38, will acquire Israeli semiconductor firm Galileo Technology Ltd. (Nasdaq: GALT) in a deal worth $2.7 billion.

Interwoven Inc. (Nasdaq: IWOV), up 1.63 to 105.38, reported third quarter earnings of a penny a share to trump First Call Corp.'s expected loss of 2 cents a share. The company also issued a 2-for-1 stock split.

Endwave (Nasdaq: ENWV), priced 6 million shares at $14 a share for trading Tuesday.

Chip equipment maker Teradyne (NYSE: TER), down 8.94 to 25.50, led the latest round of earnings with a third quarter upside surprise. Cognizant (Nasdaq: CTSH), up 1.69 to 36.75, Exar (Nasdaq: EXAR), down 6.75 to 119.25, and PC Connection (Nasdaq: PCCC), down 14.06 to 29, also topped estimates.

Amazon (Nasdaq: AMZN) fell 2.44 to 21.88, AOL (NYSE: AOL) shed 6.01 to 46.6 and Yahoo! (Nasdaq: YHOO) fell 4 to 51.25.

Among other leading tech issues: Cisco (Nasdaq: CSCO) gained 1.31 to 55.81, Intel (Nasdaq: INTC) rose 0.38 to 36.06, Microsoft (Nasdaq: MSFT) was up 0.63 to 51, and Oracle (Nasdaq: ORCL) shed 0.44 to 34.13.