Midday stock check: Yahoo takes big hit

Though the market dropped sharply at times on Wednesday, Mountain View's Verisign (VRSN)  was up slightly, with gains of more than 2.4 percent. Verisign launched a new multi-screen platform for digital content on Monday.

Few Bay Area stocks fared nearly so well, with Yahoo (YHOO) taking the biggest hit. The Sunnyvale company was down more than 6 percent in midafternoon trading. Yahoo has been in the headlines after being berated by House Foreign Affairs Committee chairman Tom Lantos, D-San Mateo, for giving up the identity of dissident journalist Shi Tao.

The other search engine giant, Google (GOOG), reached a high of $747 per share. 

Sun Microsystems, Inc. (JAVA) and Cisco Systems, Inc. (CSCO) were traded the most heavily, hitting volumes of more than 77 million and 72 million, respectively. Cisco is expected to report higher revenue, according to MarketWatch, although analysts worry that a weak corporate market in North America could hamper the company's growth.

The Dow Jones industrial average dropped by as much as 319 points and Nasdaq was down 65 points in midafternoon, as the S&P 500 Index fell more than 20 points.

Also in the news, Santa Clara-based Agilent Technologies Inc. (A) has agreed to acquire Menlo Park-based Velocity11 for an undisclosed amount, according to CNNMoney.

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

Dog owners sue over new pet restrictions at Golden Gate National Recreation Area

Three dog owners’ groups and a recreation association sued the Golden Gate National Recreation Area in federal court in San Francisco

SF man accused of attempted rape of 99-year-old acquitted of most serious charges

The attorney for a man accused of attempting to rape an elderly… Continue reading

Vital link between two Muni train cars ‘failed’ while carrying passengers

A Muni train carrying passengers suffered a mechanical failure causing two rail cars to reportedly loosen and bump into each other

San Francisco community advocate to join District 5 supervisor’s race

Daniel Landry is the former president of the New Community Leadership Foundation

SF judge holds GOP House candidate Omar Navarro on stalking charges

Navarro is accused of his threatening ex-girlfriend: ‘I’m going to have antifa come after your family’

Most Read