Microsoft ruling rocks tech: fight-or-flight syndrome hits investors
Article Abstract:
Technology stocks plummeted as a result of the breakdown in Microsoft's talks with the government over its antitrust case. The Nasdaq composite index experienced its worst point drop ever consisting of a 349-point slide to 4224. To make matters worse, the drop occurred just when the Dow Jones industrial average gained 300 to 11,222 as investors bought back into the old-economy stocks that have lagged for a long while. The breakdown in negotiations led to a $15.38-drop in Microsoft share price to $90.88 which wiped out $84 billion in its market value. This, in turn, spread quickly to other technology stocks and resulted in the Nasdaq drop.
Publication Name: USA Today
Subject: News, opinion and commentary
ISSN: 0734-7456
Year: 2000
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Microsoft dives, and tech stocks follow
Article Abstract:
Technology stocks were adversely affected by reports of a court-ordered breakup of software firm Microsoft even as the firm's own stock suffered a decline of $12.31 in trading that was concluded on April 24, 2000. In addition, Microsoft management's disclosure that the firm would have slower revenue growth added to the decline of the stock. The impact of Microsoft's misfortunes carried over to leading technology stocks. Cisco Systems fell by 3% while Qualcomm suffered a 9% drop.
Publication Name: USA Today
Subject: News, opinion and commentary
ISSN: 0734-7456
Year: 2000
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Investors cheer, but analysts remain wary
Article Abstract:
Investors are happy about a Thursday court ruling overturning the breakup of Microsoft, but analysts are still cautious. Investors pushed the Nasdaq composite up 51 points to 2125.
Publication Name: USA Today
Subject: News, opinion and commentary
ISSN: 0734-7456
Year: 2001
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