Here's a look at the major stories and big stock movements in tech Tuesday. The technology-heavy Nasdaq Composite closed at 4,880.97, a decline of less than 1%.
Tesla Motors(TSLA) - Get Report shares dropped by 6.6%, closing at $213.03, after Consumer Reports pulled its recommendation for the Model S because of concerns about reliability, the Los Angeles Timesreported.
Five months after introducing "instant articles" from nine publishing partners, Facebook(FB) - Get Report is rolling out the product to iPhone users and adding more partners, The Vergereported. Facebook shares closed at $97, a decline of 1.5%.
Yahoo! shares fell by 2% during the regular trading session, closing at $32.83. They were falling another 1.3% in after-hours trading.
"Yahoo! reported a net profit attributable to the company of $76.3 million, or 8 cents per share, for the third quarter ended Sept. 30, compared with a profit of $6.77 billion, or $6.70 per share, a year earlier," Reuters said. Last year's profit included proceeds of $6.3 billion, net of tax, from the sale shares in Alibaba Group Holding(BABA) - Get Report .
"Revenue, after deducting fees paid to partner websites, fell to $1.0 billion from $1.09 billion a year earlier."
The disappointing results are leading some investors to wonder if Mayer's time at Yahoo! is coming to an end. Read the report by TheStreet's Technology Editor Chris Ciaccia.
On Monday after the closing bell IBM reported it earned $3.34 a share on $19.28 billion in revenue for the third quarter, compared to the average estimate of analysts surveyed by Thomson Reuters of $3.30 a share on revenue of $19.62 billion. The company said it now expects to earn between $14.75 and $15.75 a share in 2015, down from a prior outlook of between $15.75 and $16.50 a share.
Read the complete report about IBM's business challenges by TheStreet's Technology Editor Chris Ciaccia.
Verizon Communications(VZ) - Get Report reported "better-than-expected quarterly revenue and profit as heavy promotions helped the company attract postpaid subscribers amid the launch of Apple's new iPhones," Reuters reported. "Total revenue for the third quarter rose 5% to $33.2 billion. Revenue from its Internet of Things and related offerings rose to about $175 million from $165 million in the prior quarter."
Verizon shares rose by 1.1%, closing at $45.28.
According to Reuters: "Revenue from FiOS high-speed Internet, TV and phone service rose 7.5 percent from a year earlier to $3.4 billion.
"The net income attributable to Verizon rose 9.3% to $4.04 billion, or 99 cents per share, in the quarter ended Sept. 30. Excluding items, the company earned $1.04 per share, slightly higher than the average analyst estimate of $1.02, according to Thomson Reuters.
"Total operating revenue rose 5% to $33.16 billion, beating analysts' expectations of $32.94 billion.The company net added 1.3 million wireless retail postpaid subscribers in the quarter compared with 1.1 million in the second quarter."
This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.