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Tech Industry

Rises and falls of tech stocks

It's been a tumultuous week for markets worldwide, and tech issues in particular find their fortunes tied to the daily roller-coaster ride.

It's been a tumultuous week for markets worldwide, and tech issues in particular have found their fortunes tied to the daily roller-coaster ride. CheckFree is in a free-fall as it warns its fiscal 1999 revenues will come up short; GeoCities sees that even a 200-point slide in the Dow couldn't deflate its much-anticipated IPO; and Adobe feels the consequences of skittish investors as it imposes layoffs and watches its stock dive.

CheckFree falls on revenue news
update The company's shares fall more than 45 percent after it warns that it expects revenues for fiscal 1999 to be much lower than expected.

GeoCities continues climbing
update After rising almost 120 percent in its first day of trading, the online community site continues its upward trajectory, gaining another 23 percent in early trading.

Adobe warns of trouble ahead
update The company warns of an earnings shortfall as it announces that three of its execs have resigned and that it will impose layoffs.

U.S. markets rebound
update U.S. markets rebounded in early trading from yesterday's sharp decline, despite a continued slide in the Japanese market.