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.

Just Posted

Slow to reform, SFPD touts lack of police shootings as sign of progress

Department has completed about 10 percent of federal recommendations for improvement

SFPD issuing fewer life-saving traffic tickets because of ‘additional paperwork’

In August, Mayor London Breed and traffic safety watchers blasted San Francisco… Continue reading

PG&E to use state support, aircraft to minimize impact of power shutoff

PG&E has accepted an offer of technical assistance and aircraft to help… Continue reading

Transbay BART tube reopens after service halted by sparks during rush hour

Sparks near the transbay tube prompted BART to halt some service between… Continue reading

BART: busking ban on trains may be legal despite opposition, free speech concerns

When BART board director Debora Allen first floated her proposal to ban… Continue reading

Most Read