Yahoo, VMWare fall as market plunges

Sunnyvale’s Yahoo Inc. (YHOO) and Palo Alto’s VMWare Inc. (VMW) showed the biggest declines Wednesday among the local stocks followed by the Examiner. Both fell by more than 7.6 percent in value by the market’s close, with Yahoo ending at $27.63, and VMWare at $102.50.

At the other end of the spectrum, the biggest gainers as of 1:30 p.m. Pacific Standard Time were Mountain View-based Verisign Inc. (VRSN), which went up by more than 1.4 percent, and Santa Clara-based Sun Microsystems Inc. (JAVA), which increased by more than 1.3 percent.

The markets were down overall, with the Dow Jones dropping more than 2.6 percent to close at 13,300.02, the Nasdaq falling 2.7 percent to 2,748.76 and the S&P 500 falling more than 2.9 percent to 1,475.62.

Local companies in the news included Cisco Systems Inc. (CSCO), which released fourth-quarter results showing an increase in profits, according to Reuters, and Santa Clara-based Agilent Technologies Inc. (A), which agreed to buy Menlo Park-based Velocity11.

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