Traders were unloading technology shares after the market closed Thursday, as disappointing earnings and outlooks sent hardware, software and telecom issues lower.
was the volume leader on the Instinet platform, where it dropped 7.1% to $52.35. After the close, the software giant posted
disappointing quarterly results and took down its guidance.
was off 4.1% to $8.17 after reporting a
narrower-than-expected loss but showing revenue that was a little shy of the consensus estimate.
was down 6.2% to $7.10 following news that the telco will
cut jobs, slash capital spending and miss its prior revenue targets. Online auctioneer
was dropping 5.9% to $49.90 despite topping analysts' expectations by a penny and posting revenue growth for the latest quarter.
The majority of the most active stocks were related to the technology sector.
was down 2.1% to $15.11.
was off 2%, and
was losing 2.1%.
was shedding 3.4%, and
was down 2.7%.
Nasdaq 100 Unit Trust
was falling 1%, and the
S&P 500 Depositary Receipts
gave up 0.6%.
Volume was on the heavy side. In the first 45 minutes of trading, more than 6.2 million shares changed hands among the top-20 volume movers on Instinet.