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Byline: CRAIG SHAW
The Nasdaq lost 3.3% Monday on lighter volume for its lowest close since October despite a strong manufacturing report.
Websense's failed breakout collapsed further, with a 2.80-point loss to 26.80 on above-average trade. A panel of federal judges reportedly struck down a law Friday requiring public libraries to install Internet filters to block access to objectionable Web sites. Websense makes Web monitoring software. The stock tried to break out Friday, but reversed to close down 0.49.
Cognizant Technology Solutions took out its 50-day moving average, crashing 8.20 to 40.57 on nearly six times normal volume. A Credit Suisse First Boston analyst reportedly warned that tension on the India-Pakistan border could scare off potential customers of the tech firm, which has 11 software development centers in India. The State Department on Friday advised Americans against traveling to the region. Still, three research notes published Monday reportedly reiterated buy ratings for Cognizant.
Aftermarket Technology lost 1.81, or 7.6%, to 21.91 on more than double its average volume to close below its 50-day line for ...