Bay Area tech stocks plummet along with rest of Wall Street

Tech stocks in the Bay Area nose-dived on Thursday, hauled lower along with a general downturn in the stock markets.

The SV 150 Index, which is made up of the 150 largest technology stocks in the Bay Area, fell 1.2 percent. That was about the same as the tech-focused Nasdaq, which tumbled 1.2 percent, but less than the broad-based S&P 500, which slid 1 percent lower.

The big tech companies in the Bay Area all were generally lower on Thursday.

Among the 10 largest tech companies locally, San Jose-based Ad0be Systems and Foster City-based Gilead Sciences were hit the hardest. Both Adobe and Gilead plummeted 1.9 percent.

Santa Clara-based Intel also suffered through a brutal start of trading and fell 1.8 percent.

Redwood City-based Oracle was battered with a loss of 1.6 percent.

Cupertino-based Apple tumbled 1.3 percent and San Jose-based Cisco Systems fell 1.1 percent.

Mountain View-based Google slid 0.9 percent, San Francisco-based salesforce.com fell 0.5 percent, Los Gatos-based Netflix slipped 0.4 percent, and Menlo Park-based Facebook slipped 0.2 percent.

Other notable technology companies in the Bay Area also were in the news, and the revelations prompted investors to jettison their shares.

San Jose-based eBay went into a nose-dive on Thursday in the wake of an unsettling report from ChannelAdvisor that found eBay’s same-store sales for February fell 0.2 percent, far worse than February’s gains of 9.5 percent. Shares of eBay were down 4.5 percent.

 

Photo: Adobe headquarters in San Jose (Associated Press)

 

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