AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
The Real Most Active
Techs continued spiraling downward Wednesday, as the Nasdaq fell to its lowest level since December 1998.
The index attempted to rally higher, but finished the day down 55.99 points, or2.5%, at 2151.83. The Nasdaq 100 lost 2.9% to 1908.32. Volume swelled 15% to 2.07 billion shares.
Chipmakers and chip equipment firms felt the pain. Elantec Semiconductor led its group south, dropping 10.88 to 19.81 on nearly quadruple typi
cal volume. The circuit chipmaker warned second-quarter profits will miss estimates, citing a slowdown in personal computer demand. The firm now expects earnings will be 20 cents to 22 cents a share. Analysts expected 38 cents. The stock is at its lowest level in more than a year.
Linear Technology sank for the third straight day, losing 4.06 to 39.63 on nearly triple normal trade. The chipmaker is now at its lowest level since January 2000. Vitesse Semiconductor slid 4.13 to 39.44 on nearly two times daily turnover. Since last week, the stock has been traveling below both its 50- and 200-day moving averages.
Many chip equipment makers sliced their 50-day moving averages on the way down.Cabot Microelectronics plunged 10.09 to 60.56 on triple usual volume. Rudolph Technologies shed 3.25 ...