Tech Winners & Losers: Yahoo! - TheStreet

Tech Winners & Losers: Yahoo!

Shares fall as investors fear executives are leaving a sinking ship.
Publish date:

Updated from 2:17 p.m. with new stock prices

Tech stocks were trading lower, along with the major market indices, as investors worried about rising oil prices and

the health

of the financial services sector in the U.S.



fell 74 cents, or 3.3%, to $21.99 following reports that more senior executives are leaving the company after a failed acquisition bid for the company by


(MSFT) - Get Report

. The

Wall Street Journal

also reported that Yahoo!

is considering

merging its mail, search and home-page divisions into one centralized unit.

Chinese web company

(SOHU) - Get Report

shed $11.34, or 13.6%, to $71.96 after the company said the upcoming Olympics in Beijing would be a huge driver for online advertising but ad revenue growth could slow in 2009. This fiscal year, Sohu expects online ad revenue to grow 40%-45% and fall to about 20% to 30% in 2009.'s comments also affected Chinese search engine


(BIDU) - Get Report

, which declined $12.31, or 3.7%, to $322.50.

Shares of



fell $2.29, or 9.8%, to $21.15 after a Citigroup analyst

cut his rating

on the stock to hold from buy and reduced the price target on the stock to $27 from $35. With demand in Asia slowing down, analyst Craig Ellis expects lower product growth in the second half of the year.


(LOGI) - Get Report

was down $2.85, or 9.5%, to $27.14 after an analyst at Goldman Sachs downgraded the stock to sell from neutral and added to it Goldman's Conviction Sell List, largely based on valuation. Logitech's stock trades at a P/E multiple premium of about 70% compared to other European tech hardware stocks such as




(NOK) - Get Report

, said the analyst.

IT security company


(SYMC) - Get Report

lost 79 cents, or 3.9%, to $19.41 after an analyst at Friedman, Billings, Ramsey downgraded the stock to market perform from outperform and cut his price target to $23 from $24. The stock has jumped 25% since the beginning of the year, said the analyst, and "macro-headwinds" could affect near-term growth expectations for the company.