MIDDAY MARKETS: More warnings crush techs

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Another round of warnings put downward pressure on techs at midday Friday. The Nasdaq tumbled 71.05 to 4,027.30 and the Dow Jones industrial average shed 51.80 to 11,208.07.

The Inter@ctive Week @Net Index fell 11 to 533.06.

National Discount Brokers Group, Inc.(NYSE: NDB), down 7.75 to 28.06, or 23 percent, warned that it expects to report a loss for the upcoming quarter, reversing the the Street's projection for a profit of 9 cents per share.

Kulicke & Soffa (Nasdaq: KLIC) dropped 1.44 to 15.63 after the company's CEO told investors that its September quarter would dip sequentially.

Mpower Communications Corp. (Nasdaq: MPWR), down 3.4 to 8.91, or 28 percent, after it announced revised forecasts for the remainder of the year, and a charge of up to $13 million to reorganize its business.

Scient (Nasdaq: SCNT) saw some positive news; the stock was up 4.75 to 25.5 after an upgrade from William Blair helped convince the markets it shouldn't be lumped in with other crumbling Internet consultants. Viant (Nasdaq: VIAN) fell 0.31 to 7.56 and iXL (Nasdaq: IIXL) was down 0.03 to 6.41.

Teen site iTurf (Nasdaq: TURF), up 0.19 to 1.94 managed to best analysts' estimates for the second quarter, posting a narrower-than-expected loss, pushed partially by increased ad sales.

Dot-com layoffs aren't just a U.S. trend. Asiacontent.com (Nasdaq: IASIA), down 0.25 to 3.75, said Friday that it was letting go of 50 workers in its eight Asia-Pacific offices.

Yahoo! (Nasdaq: YHOO) fell 4.94 to 102, Amazon (Nasdaq: AMZN) fell 0.81 to 42.69 and AOL (NYSE: AOL) dropped 0.40 to 55.56.

Among other leading tech issues: Microsoft (Nasdaq: MSFT) shed 0.06 to 70.13, Cisco (Nasdaq: CSCO) dropped 1.75 to 64.5 and Oracle (Nasdaq: ORCL) shed 3.31 to 87.88.