Word: nasdaq
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...this NASDAQ tech talk about bottoms, sectors and valuation bubbles hasn't meant much to Dow investors lately, who have tended to save their big reactions for top-of-the-fold items that, say, a Fed chairman might worry about...
After the NASDAQ wrecking ball made another pass Wednesday, taking the tech index down 190 points, or 5.56 percent, to 3229 - the seventh largest percentage drop of the year - the good news is that there isn't much left standing...
...Largely spared by the violent sell-offs of the past few months, fiber optics - which tends to overlap with networking companies like Cisco and Juniper Networks - was considered by NASDAQ types to be "one of the last bastions of strength in the market," in the words of one analyst. Not any more...
...midday Thursday, the sellers weren't done yet. Juniper Networks, one of the high-flying bellwethers of the sector (which has lately been a sometime bellwether for the rest of NASDAQ), dipped below $200 during Wednesday's bloodbath and kept on going, hitting $170 at noon Thursday. Corning (more than oven-safe dishes, folks!) is below $70 and off more than 30 percent on the week. Cisco is back down in the very low fifties...
CyberWorks' share price plunged 16% in one day last month, to $1.16. (It's down almost 70% from its February high of $3.38.) It was dragged down partly by NASDAQ's own lackluster performance, but there was another, more direct cause. Britain's Cable & Wireless, the parent of the Hong Kong firm, dumped a quarter of its 20.1% stake in CyberWorks, acquired after the merger with HKT was approved in August. According to analysts, the move suggested that Cable & Wireless expects CyberWorks' shares to fall further. "Actions speak louder than words," says Henry D.C. Lee, managing director of Hendale Asia...