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Tech Industry

MIDDAY MARKETS: Presidential indecision weighs on Nasdaq

    The month-long election impasse continued to weigh on techs at midday Tuesday. The Nasdaq Composite Index slumped 37.04 to 2,978.06 and the Dow Jones Industrial Average was up 100.87 to 10,826.67.

    The Inter@ctive Week @Net Index fell 2 to 379.71.

    Just as Sun Microsystems (Nasdaq: SUNW) was recovering from rumors of accounting irregularities, a couple of analysts got bearish on the stock and raised questions about its growth prospects. The stock gained 0.13 to 34.13.

    DoubleClick (Nasdaq: DCLK)'s warning was a hit with analysts and investors. Shares bounded up 2.19 to 14.03. Engage (Nasdaq: ENGA), up 0.13 to 1.81, will report earnings after Tuesday's bell.

    Advanced Micro Devices (NYSE: AMD) was up 0.44 to 17.75 following its warning. Intel (Nasdaq: INTC) shed 0.06 to 37.38.

    Consumer electronics retailer Best Buy Co. (NYSE: BBY) jumped 13 percent, or 3.19 to 27.75 after it met lowered analyst estimates for its fiscal third quarter Tuesday, but saw a 27 percent drop in third-quarter earnings year over year.

    Tower Semiconductor (Nasdaq: TSEM), down 0.13 to 16.56, said it has raised $300 million for a new production facility.

    Cisco (Nasdaq: CSCO) dropped 0.75 to 54.06, Oracle (Nasdaq: ORCL) fell 0.69 to 31.25 and Microsoft (Nasdaq: MSFT) was unchanged at 58.06.

    Amazon (Nasdaq: AMZN) rose 1.31 to 26.63, AOL (NYSE: AOL) gained 0.24 to 48.73 and Yahoo! (Nasdaq: YHOO) was up 4.38 to 38.25.