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Tech Industry

MIDDAY MARKETS: More warnings weigh on techs

    The warnings kept coming at midday Friday; Razorfish, Marimba, Veeco and Hyperion led the decliners. The Nasdaq tumbled 77.91 to 3,394.19 and the Dow Jones industrial average shed 83.61to 10,641.31.

    The Inter@ctive Week @Net Index fell 13 to 471.46.

    Razorfish (Nasdaq: RAZF) dipped 4 to 4.75, or 46 percent after it warned that, like a growing list of Internet consultants, it would report disappointing results for the upcoming quarter.

    Shares of Marimba (Nasdaq: MRBA) plunged 6.09 to 5.03 in morning trading, after warning investors that third quarter sales and earnings would miss expectations.

    Hyperion Solutions Inc. (Nasdaq: HYSL) said Friday it will miss expectations for the quarter ending Sept. 30. Shares tumbled 7.94 to 11.44, or 41 percent.

    Veeco Instruments Inc. (Nasdaq: VECO) tumbled 31.5 to 71.03, or 31 percent after it announced preliminary results for the third quarter, and downwardly revised fourth quarter expectations. Its COO is also leaving.

    In order to fend off sellers, Internet investment firm CMGI (Nasdaq: CMGI), unchanged at 21.5, said Friday that it has enough cash on hand to last for two years.

    An upbeat pre-announcement from MetaSolv Software, Inc. (Nasdaq: MSLV) boosted shares 5.38 to 25, or 27 percent after it announced earnings for its third quarter would be on target with analysts' expectations.

    Amazon (Nasdaq: AMZN) fell 3 to 30.56, AOL (NYSE: AOL) dropped 2.45 to 59.05 and Yahoo! (Nasdaq: YHOO) dropped 3.88 to 80.81.

    Among other leading tech issues: Cisco (Nasdaq: CSCO)fell 1.19 to 56.38, Intel (Nasdaq: INTC) dropped 0.31 to 40.69, Microsoft (Nasdaq: MSFT) rose 0.31 to 55.688 and Oracle (Nasdaq: ORCL) rose 1.25 to 69.56.