business newsMidday Nasdaq Falls on Q3 Earnings Reports
By
Jonah Loeb Oct 10, 2012 2:55 pm
And as usual, it's a bad day for Zynga.
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MINYANVILLE ORIGINALThe Nasdaq Composite Index (INDEXNASDAQ:.IXIC) fell 0.35% to 3,054.34 as of 2:45 p.m. EDT today as earnings continued to lag across the board.
Sirius XM Radio (NASDAQ:SIRI) had a great day, rising 2.28% to $2.69 on 166,574,860 shares traded after its subscriber counts beat estimates for the third quarter.
It was one of the only tech companies that did well, though; OCZ Technology (NASDAQ:OCZ) dropped 39.84% to just $1.89 after publishing earnings numbers that fell well short of estimates, and beleaguered game company Zynga (NASDAQ:ZNGA) fell 5.54% to $2.31 after being downgraded by investment banking firm Piper Jaffray.
Rupert Murdoch-owned News Corp (NASDAQ:NWSA) fell 1.10% to $24.35 as analysts continued to note the decline of advertising revenue in the newspaper industry.
Apple (NASDAQ:AAPL), though, saw its industry’s direction help its stock price, which rose 1.03% to $642.31 as numbers showed that the PC market dropped for the first time in 11 years while Apple’s revenues remained strong on the basis of mobile devices like the iPad and iPhone.
Sirius XM Radio (NASDAQ:SIRI) had a great day, rising 2.28% to $2.69 on 166,574,860 shares traded after its subscriber counts beat estimates for the third quarter.
It was one of the only tech companies that did well, though; OCZ Technology (NASDAQ:OCZ) dropped 39.84% to just $1.89 after publishing earnings numbers that fell well short of estimates, and beleaguered game company Zynga (NASDAQ:ZNGA) fell 5.54% to $2.31 after being downgraded by investment banking firm Piper Jaffray.
Rupert Murdoch-owned News Corp (NASDAQ:NWSA) fell 1.10% to $24.35 as analysts continued to note the decline of advertising revenue in the newspaper industry.
Apple (NASDAQ:AAPL), though, saw its industry’s direction help its stock price, which rose 1.03% to $642.31 as numbers showed that the PC market dropped for the first time in 11 years while Apple’s revenues remained strong on the basis of mobile devices like the iPad and iPhone.
No positions in stocks mentioned.
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