This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Tech Winners & Losers: Yahoo!

Tech stocks ended their weeklong rally, tumbling with the rest of the market, a day after voters elected Barack Obama as president to help navigate the country through an economic crisis.

The Nasdaq fell 98 points, or 5.5%, to close at 1682.

Yahoo! (YHOO - Get Report) shares climbed 4.3% to $13.93 on speculation that Microsoft (MSFT - Get Report) would make a new offer to take over the company.

Yahoo! on Wednesday acknowledged that Google (GOOG) had pulled out of a search deal that was expected to generate $250 million to $450 million in operating cash flow, and potentially $800 million in annual revenue.

That has left investors wondering if Microsoft is now in a better position to acquire Yahoo!. The two companies had walked away from negotiations in June.

Shares of Microsoft fell 6.2% to close at $22.07.

Time Warner Cable (TWC - Get Report) saw its shares tumble 3.2% to $19.90 after it lowered its full-year outlook .

The company posted better-than-expect third quarter earnings but cut its 2008 guidance to $1.10 a share to $1.15 a share. Analysts had been expecting earnings of $1.13 a share. Time Warner anticipates an 8% rise in full-year revenue, but that's down from its earlier projection for a 9% growth.

SunPower's (SPWRA) shares plummeted 35% to $32.84 after the company said that a stronger U.S. dollar will reduce fourth quarter and fiscal 2009 earnings growth .

The company now expects fourth-quarter revenue of $388 million to $418 million, and earnings of 58 cents to 65 cents a share, excluding items. That's below Wall Street estimates for earnings of 75 cents a share in the fourth quarter. For 2009, SunPower expects total revenue of $2 billion to $2.1 billion and earnings of at least $3 a share.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
GOOG $565.06 3.30%
IACI $72.14 -0.32%
MCHP $47.33 -2.55%
MSFT $47.87 10.45%
TWC $155.26 4.37%

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs