Tech Daily: Sector retreats as market tumbles after rally; Yahoo rises

Date: Wed, 05 Nov 2008 18:00:09 -0500
Tech Stocks: Sector retreats as market tumbles after rally; Yahoo rises

Technology stocks tumble following the previous day's rally as
investors ponder the major economic challenges that President-elect
Barack Obama will face.

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AMD to cut 500 jobs

Advanced Micro Devices Inc. says it will cut 500 jobs as part of its
bid to reduce expenses.

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Cisco reports 8% jump in sales, flat quarterly profit

Cisco Systems Inc. reports an 8% jump in fiscal first-quarter sales,
but its net income is flat.

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Sun Micro hosts mild shareholders' meeting

Sun Microsystems Inc. holds its annual shareholders' meeting, and
company officials have little to say to their stock owners in the wake
of the computer server and software maker's recent disappointing
quarterly report.

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Google pulls out of search-advertising deal with Yahoo

Google pulls out of its proposed advertising partnership with Yahoo
under pressure from regulators and clients, leaving Yahoo's future in
question.

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Time Warner profit slips; full-year outlook cut

Time Warner Inc. reports that third-quarter profit slipped 1.7% on
flat revenue, and the New York media giant cut its estimate of
full-year earnings from continuing operations.

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Currency losses to dent SunPower's profit

SunPower Corp. on Wednesday warned that earnings growth in the fourth
quarter and 2009 will be hurt by currency problems, as the solar panel
operator struggles with a stronger dollar against the euro.

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Activision swings to a loss on merger charges as game sales jump

Activision Blizzard Inc. swung to a net loss for the third quarter
even though sales of its titles soared, due to large charges related
to its merger with Vivendi's video-game unit.

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XTO profit rises 26% on higher production

XTO Energy on Wednesday said third-quarter net income
rose by 26% thanks to higher production, revenue and cash flow at the
domestic natural gas giant, which said it expects to grow its 2009
cash flow by at least25%.

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Telecom Stocks: Sprint, Clearwire, telecoms tumble

Telecommunications stocks mostly decline as results of the U.S.
election sink in.

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Cisco expected to report 7% revenue rise

Cisco Systems Inc. is widely expected to survive the hardest blows in
the economic downturn, but analysts say the slump is still bound to
take its toll on the tech giant.

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MarketWatch First Take: Yahoo shareholders betting big on Microsoft's return

To the surprise of no one, the ad outsourcing deal between Google Inc.
and Yahoo Inc. is dead. Whether Yahoo can resurrect a deal with
Microsoft Corp. is still an open question.

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Economic Report: Service sector crumbles in Oct., ISM says

More nonmanufacturing companies in the United States, a key source of
economic strength over the past two decades, buckled in October under
the weight of the economic woes facing consumers.

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Israel Stocks: Market snaps 5-day win streak; Ormat rises

Israeli stocks traded in a volatile session and snapped a five-day
winning streak on Wednesday, in the first chance Israeli traders had
to react to the news that Barack Obama was elected president of the
U.S.

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Sanyo first-half profit more than doubles
Sanyo Electric Co. said Wednesday its net profit for
the half year more than doubled, helped by one-time gains from the
sale of its cellular phone business.

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FCC approves use of 'white spaces' spectrum

Large technology companies including Google and Microsoft wins a
years-long, intensive lobbying battle with television broadcasters and
telecom companies when the Federal Communications Commission votes to
authorize the unlicensed
use of "white spaces" spectrum.

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Stocks to Watch: Stocks in focus for Wednesday

Among the companies whose shares are expected to see active trade in
Wednesday's session are Cisco Systems Inc., Time Warner Inc., and News
Corp.