After Market: Internet High-Flyers Continue Their 3-Day Dive


The shake-out on Wall Street continued on Monday, with Nasdaq stocks taking the brunt of the selling. Over the past three trading sessions, the Nasdaq has plunged 177 points, or more than 4 percent. Big name Internet and social media stocks led the downturn, but the damage was widespread.

The Dow Jones industrial average (^DJI) fell 167 points, the Nasdaq composite (^IXIC) slid 48 and the Standard & Poor's 500 index (^GPSC) lost 20 points.

Let's check some of the big name losers on the Nasdaq.

Apple (AAPL) lost 1.5 percent, LinkedIn (LNKD) dropped 3.5 percent and Pandora Media (P) fell 5 percent despite an upgrade by Wedbush Securities. Pandora shares have now tumbled by 27 percent over the past month.

But Facebook (FB) and Netflix (NFLX) turned around in the final hour to post modest gains.

Online travel companies Priceline (PCLN), Expedia (EXPE) and TripAdvisor (TRIP) all continued to decline. And Tesla Motors (TSLA) lost another 2 percent.

But biotechs avoided the heavy selling today. Biogen Idec (BIIB) actually turned higher. And some of the money flowing out of Internet stocks moved into "old" tech companies.
IBM (IBM), Intel (INTC) and Cisco Systems (CSCO) all gained about 1 percent.

Among other blue chips, Walt Disney (DIS) fell 1.5 percent despite a strong opening weekend for "Captain America: The Winter Soldier."

Pfizer (PFE) fell 3 percent. It reported generally positive results for a new breast cancer drug, but there was disappointment the findings were not even better.

And Procter & Gamble (PG) gained 1 percent after increasing its dividend.

There weren't many gainers, but big name food companies were among them: Kellogg (K), General Mills (GIS), Kraft (KRFT) and Coca-Cola (KO) all gained more than 1 percent.

Elsewhere, 3-D printers are malfunctioning. Stratasys (SSYS) lost 7 percent. Over the past three months it's lost nearly a quarter of its value.

World Wrestling Entertainment (WWE) got pinned, losing 15 percent even though the company says it is on target for 1 million subscribers this year.

Buffalo Wild Wings (BWLD) fell 2 percent even though it expects to do big business for tonight's NCAA championship game.

And the health technology firm Questcor (QCOR) jumped 19 percent agreeing to be acquired by Mallinckrodt (MNK) for $5.6 billion.

What to Watch Tuesday:
  • The Labor Department releases job openings and labor turnover survey for February at 10 a.m. Eastern time.
These major companies are scheduled to report quarterly corporate earnings: -Produced by Drew Trachtenberg.

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“While many U S companies are making RECORD proffits,,it is becoming clear that many Americans can not even put food on the table,,, HOW did this happen ? Somewhere in the 1980’s CORPORATE AMERICA decided that their greedy profits were more important than the employees that made that profit possible,, slowly the workers got squeezed,, UNIONS were busted,, benefits were CUT,, hours were increased and wages were cut . It is not something that happened overnight until one day you realize you can not feed yourself in the RICHEST COUNTRY on the planet, this was all done aided and abetted by the REPUBLICANS in this country who now want to extend corporate Americas death grip on the people of this country by making corporations people too”
“Consider the statistics: 50 years ago, the wealthiest 1% of Americans accounted for one of every 10 dollars of the nation's income; today, it's nearly one in every four.

April 08 2014 at 11:11 AM Report abuse -3 rate up rate down Reply

The Democratic party is trying to do more stuff to help this country than the GOP. The Dems want to invest and create millions of jobs rebuilding our crumbling infrastructure. The GOP doesn't want to. The Dems saw the need to do something about making healthcare more affordable. The GOP doesn't want to. The Dems want to raise the minimum wage to help the working poor. The GOP doesn't want to.
Keep saying no to what the majority of Americans want, come election time Americans will say no to the TPGOP

April 08 2014 at 11:03 AM Report abuse -2 rate up rate down Reply

Is there a wingnut out there who can explain to me where Sen. Warren erred in her analysis? If I recall, every time we have allowed capitalists free reign, the economy has crashed, ALL under Republican presidents, from the (last) era of the "robber barons," to the crash of 1929, to Reagan's deregulation of Savings and Loans, to Bush's deregulation of Wall Street, every deregulation or lack of regulation has been a disaster. Does Paul Ryan even know history?

April 08 2014 at 10:31 AM Report abuse -1 rate up rate down Reply

Sh*tcan all Democrats now and thing will turn for the better.

April 08 2014 at 9:29 AM Report abuse +4 rate up rate down Reply
1 reply to progressivehoax's comment

Just think how much better this country would be without the GOP.

April 08 2014 at 10:01 AM Report abuse -4 rate up rate down Reply

You think that is something, just wait until the spotlight shines on the "players" and how they have used high speed trading software to control Commodity prices.....

April 08 2014 at 6:44 AM Report abuse rate up rate down Reply

Why is this woman smiling? Reminds me of a verse from "Dirty laundry"

April 07 2014 at 11:45 PM Report abuse rate up rate down Reply

How can one even enter the market when all the stocks are at their Highs .. many stocks at All Time Highs . the ones that do enter to buy ......also buy priced into the stocks the high risk of a major multiple market correction ... Art Cashin the only real ( pro tape reader ) said today the O word . Oversold ...... and Oversold equates to Selling pressure ..... all the technicals have broken down and we will go much lower ... nobody wants to catch this falling knife !

April 07 2014 at 10:20 PM Report abuse rate up rate down Reply

Is it just me, or does everybody else also get the sense that each of Bush 4 POTUS terms have progressively gotten worse?.

I sure hope that guy doesn't win a 5th term.

April 07 2014 at 9:22 PM Report abuse +2 rate up rate down Reply
1 reply to eb_spongebob's comment

I sure hope Jeb Bush doesn't run in 2016. Perhaps the teabaggers will pick a sane candidate to run in 2016. Michele Bachmann just made the teabaggers look more insane.

April 07 2014 at 9:35 PM Report abuse -4 rate up rate down Reply

Not surpised by Tesla's losses. It's been hugely overvalued. They would have to sell at least ten times as many cars as they currently are for five years to justify their market capitalization. They make a nice product, but for all it's fanfare, it remains simply a minor niche vehicle for now. Maybe if gas prices head north of $5.00 a gallon, they can gain share, but otherwise...

April 07 2014 at 7:23 PM Report abuse +1 rate up rate down Reply

What difference does it make?We are in open decline and the world KNOWS,there is no way USA will get better with left wings and liberals in charge

April 07 2014 at 6:51 PM Report abuse +2 rate up rate down Reply
1 reply to thefacts22's comment

The world laughs at the TPGOP for losing the last two presidential elections. In the 2012 elections the Republican party was 87% white. If the TPGOP doesn't expand their base to the changing demographics of this country it will be their demise..........

April 07 2014 at 9:20 PM Report abuse -5 rate up rate down Reply