Midday Markets: Techs suffer

Techs were hammered at midday on Monday. The Nasdaq sank 64 to 2,455 and the @Net dropped 14 to 298. The Dow Jones industrial average fell 120 to 10,709.

Stocks with dot-com suffixes were marked for sale along with many other stocks on Monday. The Standard & Poor's 500 index fell 19 to 1,310 and the small cap-heavy Russell 2000 dropped 6 to 442.

Dell Computer Corp. (Nasdaq: DELL) lost 1 1/2 to 35 13/16 after a Barron's article described the PC seller among a handful of technology stocks a portfolio manager considered "overvalued." International Business Machines Corp. (NYSE: IBM) dropped 4 11/16 to 225 11/16 and Gateway Inc. (NYSE: GTW) declined 1 3/16 to 60 1/8.

Among the severely punished, Yahoo! Inc. (Nasdaq: YHOO) dropped 11 7/32 to 140 3/32, At Home Corp. (Nasdaq: ATHM) slid 13 117, Hauppage Digital Inc. (Nasdaq: HAUP) fell 5 5/16 to 22 1/2, DoubleClick Inc. (Nasdaq: DCLK) slipped 9 9/16 to 97 15/16, Amazon.com Inc. (Nasdaq: AMZN) dropped 9 1/4 to 119 5/16 and CMGI Inc. (Nasdaq: CMGI) sank 17 3/4 to 214.

There were a few rays of hope that peeked through the noonday gloom. Texas Micro Inc. (Nasdaq: TEXM) rose 1 15/32 to 6 11/32 after Radisys Corp. (Nasdaq: RSYS) agreed to buy the company. Customtracks Corp. (Nasdaq: CUST) rose 12 7/16 to 73 7/8 after announcing the release of its new online transaction security software for the third quarter.

Intel Corp. (Nasdaq: INTC) fell 1 1/8 to 55 7/8 and Advanced Micro Devices Inc. (NYSE: AMD) fell 1 1/2 to 19.

Among software makers, Microsoft Corp. (Nasdaq: MSFT) lost 1 1/16 to 76 1/2, Computer Associates International Inc. (NYSE: CA) climbed 1 1/16 to 46 and Oracle Corp. (Nasdaq: ORCL) dipped 5/8 to 25 1/8.

Close
Drag
Autoplay: ON Autoplay: OFF