17 Gifts at All-Time Lows Gifts Under $30 'Forest Bubble' on Mars RSV and the Holidays MyHeritage 'AI Time Machine' Postage Stamp Price Increase Household Items on Amazon Melatonin vs. GABA
Want CNET to notify you of price drops and the latest stories?
No, thank you
Accept

MIDDAY MARKETS: Amazon leads decline

Techs tumbled again at midday Monday, as Amazon reiterated expansion plans. The Nasdaq fell 122.73 to 3,238.28 - and the Dow Jones industrial average shed 12.95 to 10,583.59.

The Inter@ctive Week @Net Index fell 14 to 453.63.

Internet companies were headed south; Amazon (Nasdaq: AMZN) fell 4.19 to 27.37, after CEO Jeff Bezos rejected criticism of the group's expansion strategy amid a sagging share price, saying it would diversify further.

Yahoo! Inc. (Nasdaq: YHOO), was down 3.19 to 78.06, despite announcing it has signed separate enterprise services agreements with Honeywell (NYSE: HON), up 0.13 to 36.63, Applied Materials, Inc. (Nasdaq: AMAT), down 1.88 to 52.31, Intellinex, an eLearning Venture of Ernst & Young LLP, and TCW Group. AOL (NYSE: AOL) dropped 1.83 to 57.3.

Electronic Data Systems Corp. (NYSE:EDS) was Monday's top gaining tech -- shares rose 5.56 to 46.19, or 14 percent after the computer services company won a contract with the U.S. Navy fir $6.9 billion. Other contenders for the contract, IBM (NYSE: IBM) and CSC (NYSE: CSC), were down 8.18 to 68.88 and 1.25 to 114.75, respectively.

N2H2 Inc. (Nasdaq: NTWO), down 0.06 to 1.63, said Monday that results for the fourth quarter will be below expectations. The company now expects a pro forma net loss between 35 and 38 cents a share. First Call Corp. had been industry_list.asp?mode=news&doc_id=ZE505889&pic=Y"expecting a loss of 32 cents a share.

Wind River Systems Inc. (Nasdaq: WIND), up 1.69 to 39.06, said Monday it will buy Rapid Logic Inc., a provider of advanced device management technologies for networking equipment and other intelligent devices.

Other leading tech issues were on the decline: Cisco (Nasdaq: CSCO)dropped 2.41 to 53.78, Intel (Nasdaq: INTC) shed 1.31 to 38.63, Microsoft (Nasdaq: MSFT) fell 1.06 to 54.5, Dell (Nasdaq: DELL) lost 0.31 to 25 and Oracle (Nasdaq: ORCL) shed 0.18 to 67.434.