VMWare, Cisco fall as tech stocks take hit

Wall Street was able to stop the bleeding somewhat on Thursday, but Bay Area technology companies continued to suffer. Palo Alto-based VMWare (VMW) fared worst, losing 10.62 points to close at 91.88, a 10.36 percent drop. San Jose's Cisco Systems, Inc. (CSCO), lost 3.12 points to close at 29.63, falling 9.53 percent. 

The Gap, Inc. (GPS), based in San Francisco, fared better than all other Bay Area companies tracked by The Examiner, finishing at 19.36, an increase of 1.21 points or 6.67 percent. San Francisco's PG&E (PCG) was close behind, finishing at 45.45, an uptick of 1.74 points or 3.98 percent.

The Dow Jones industrial average fell 33.73 points (0.25 percent), to close at 13,266.29, while the Nasdaq fell 52.76 points (1.92 percent), closing at 2,696.00.

Cisco was at the epicenter of financial news after its lackluster fiscal first-quarter results pointed to a slowdown in U.S. business spending, according to the Associated Press.

Just Posted

PG&E warns another round of power shutoffs possible starting Wednesday evening

PG&E Monday afternoon gave a 48-hour notice to approximately 209,000 customers in… Continue reading

Conservative mayoral candidate defends controversial billboard: ‘this is beautiful art’

Local elected officials denounce depiction of Mayor London Breed as ‘racist’

SF police union dumps $50K into committee against DA candidate

San Francisco’s police union is preparing to spend big money to defeat… Continue reading

Interim DA Suzy Loftus lays out plans for brief tenure before election day

‘One week matters’: Candidate fends off criticism that appointment was simply politics

Mobile recycling program could fill the gap left by facility closures

San Francisco is hoping to launch a three-year mobile recycling program to… Continue reading

Most Read