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Tech Industry

MIDDAY MARKETS: Election uncertainty troubles techs

    Election uncertainty and a continuing decline in Broadcom stock dented techs at midday Wednesday. The Nasdaq tumbled 77.92 to 3,337.87 while the Dow Jones industrial average gained 21.99 to 10,974.17.

    The Inter@ctive Week @Net Index fell 15 to 443.51.

    Broadcom (Nasdaq: BRCM), which tumbled Tuesday on concerns related to Cisco's (Nasdaq: CSCO) statements about inventory, continued to fall, down 17 to 159.500, along with other communications chip related stocks. PMC Sierra (Nasdaq: PMCS) fell 6.38 to 121.5, JDS Uniphase (Nasdaq: JDSU) dropped 2.81 to 71.31 and Applied Micro (Nasdaq: AMCC) was down 4.5 to 64.38.

    Cisco (Nasdaq: CSCO) dropped 2.38 to 54.38, Intel (Nasdaq: INTC) lost 1.63 to 44.56, Microsoft (Nasdaq: MSFT) was up 0.13 to 70.63, and Oracle (Nasdaq: ORCL) shed 1.25 to 25.31.

    NetCreations, Inc. (Nasdaq: NTCR) met reduced analyst estimates for the third quarter but warned that the dot-com slowdown would affect results for the fourth quarter and 2001. Shares were down 0.03 to 8.31.

    Shares of Manugistics Group, Inc. (Nasdaq: MANU) tumbled 8.28 to 121.72 on the news that it will offer a two-for-one split of the company's common stock.

    Bookham Technology plc (Nasdaq: BKHM) said that third quarter earnings were on target with First Call's expected loss of 7 cents a share. Its stock was off 50 cents to 30.31.

    Winstar Communications Inc. (Nasdaq:WCII) rose 24 percent, up 5.44 to 27.81. The company reported third quarter earnings that beat expectations, and announced more than $1 billion in additional financing.

    Priceline.com Inc. (Nasdaq: PCLN), the troubled Internet company that lets consumers name their own price for airline tickets and other items, lost 0.69 to 3.59 on the new that the head of its auto-services business has quit.

    Amazon (Nasdaq: AMZN) fell 1.25 to 35.69, AOL (NYSE: AOL) lost 0.78 to 56.82 and Yahoo! (Nasdaq: YHOO) dropped 2.31 to 66.19.