Dark day for PG&E, stock market

San Francisco-based PG&E Corp. (PCG) showed the largest drop of the day among local stocks tracked by the Examiner, falling 5.48 percent by the market’s close. Mountain View-based Verisign Inc. (VRSN) and San Francisco-based Salesforce.com (CRM) also experienced significant drops of more than 5 percent.

Gains today were small, with top performer Maxim Integrated Products Inc. (MXIM), based in Sunnyvale, rising only 0.04 percent and Santa Clara-based Nvidia Corp. (NVDA) staying flat.

The markets dropped sharply today, with the Dow Jones falling 263.14 points, or 2.6 percent and the Nasdaq fell 2.25 percent. The S&P 500 was down 2.64 percent.

Companies in the news included Redwood City’s Electronic Arts (ERTS), which reported a second quarter loss, according to Reuters, and Google Inc. (GOOG), which reported a new deal signing Myspace on to its platform allowing outside developers to write programs for social networking sites.

businessBusiness & Real Estate

If you find our journalism valuable and relevant, please consider joining our Examiner membership program.
Find out more at www.sfexaminer.com/join/

Just Posted

Many famillies have supported keeping John F. Kennedy Drive in Golden Gate Park free of car traffic. (Kevin N. Hume/S.F. Examiner)
Fight over future of JFK Drive heats up

Shamann Walton compares accessibilty issues to segregation, likens street closure to ‘1950s South’

Tara Hobson, center, principal at SF International High School, welcomes a student back on Monday, April 26, 2021. (Kevin N. Hume/S.F. Examiner)
SFUSD seniors get a chance to say goodbye to school in person

Deal to briefly return older students to school leaves many parents and teens dissatisfied

(Kevin N. Hume/S.F. Examiner)
City College union deal staves off layoffs, class cuts

One year agreement allows community college time to improve its finances

San Francisco Giants pitcher Logan Webb (62) faced down the Rangers Tuesday in a two-game sweep by the giants. (Photography by Chris Victorio | Special to the S.F. Examiner).
Webb posts career-high 10 strikeouts as Giants finish sweep of Rangers

The Texas Rangers arrived in San Francisco with one of the hottest… Continue reading

A Homeless Outreach Team member speaks with homeless people along Jones Street in the Tenderloin on Wednesday, May 6, 2020. (Kevin N. Hume/S.F. Examiner)
Breed proposes another street outreach team to divert calls away from police

San Francisco would launch a new street outreach team to respond to… Continue reading

Most Read