MIDDAY MARKETS: Techs slide

The Nasdaq slid at midday Monday as Cisco and PurchasePro led techs in decline. The Nasdaq slid 35.80 to 2,624.70 and the Dow Jones industrial average was up 34.45 to 10,898.55.

The Inter@ctive Week @Net Index fell 3 to 286.81.

Cisco (Nasdaq: CSCO) lead the Nasdaq's decliners, off $1.66, or 5 percent to $33.84 ahead of Monday's quarterly report.

PurchasePro (Nasdaq: PPRO) was off $4.13, or 16 percent to $21 despite its rebuttal to an article published in Barron's, which questioned the company's business model and valuation.

Princeton Video Image (Nasdaq: PVII), up $0.84 to $5.59, marched up almost 20 percent after the company inked a $17.5 million licensing deal with Cablevision (NYSE: CVC), up $1.1 to $84.3.

Exodus Communications (Nasdaq: EXDS) , off $3.19 to $20, said it will sell 13 million shares in a secondary offering and raise $500 million in a convertible bond offering. The deals will raise a total of $800 million--enough to fund the company until it delivers net income in 2003.

Fiber optic network company Williams Communications (NYSE: WCG), off $0.15 to $17.9, reported a hefty loss Monday, but said it expects to be cash flow positive on an operational basis by the end of 2001.

Harmonic (Nasdaq: HLIT), down $0.81 to $9.44, said it would cut 10 percent of its workforce, a cost-cutting move intended to address lower spending by some of the company's major customers.

Intel (Nasdaq: INTC) was off $1.13 to $34.56, Oracle (Nasdaq: ORCL) rose $0.13 to $7.87and Microsoft (Nasdaq: MSFT) climbed $0.38 to $61.19.

Amazon (Nasdaq: AMZN) increased 0.31 to 14.68, AOL (NYSE: AOL) rose $1.63 to $49.42 and Yahoo! (Nasdaq: YHOO) gained $1.94 to $34.94.