Cisco extends Tuesday's decline
GE edges up; stock futures point to mixed open
By Tomi Kilgore, CBS.MarketWatch.com
Last Update: 7:24 AM ET Jan 3, 2001
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NEW YORK (CBS.MW) - Shares of Cisco Systems fell in pre-market trading Wednesday, extending the declines suffered during Tuesday's tech bloodbath.
Cisco (CSCO: news, msgs) shed 75 cents to $32.56 in Instinet. The heaviest-weighted stock in the Nasdaq Composite index ($COMPQ: news, msgs) fell 13 percent to $33.31 on Tuesday, hitting a new 52-week low of $32.63 in intraday trading. It was the day's most-active stock with 122 million shares changing hands.
General Electric (GE: news, msgs) edged up 38 cents to $44.13 in Instinet. GE led all components of the Dow Jones Industrials Average ($INDU: news, msgs) in percentage losses Tuesday, sliding 8.7 percent to $43.75. See full story. The company, the most valuable in terms of market capitalization, lost about $41.5 billion in market value Tuesday.
BroadVision (BVSN: news, msgs) eased 25 cents to $9.44 in Instinet. Shares of the e-commerce software company slumped 18 percent Tuesday, as a warning from Germany-based rival, Intershop (ISHP: news, msgs) weighed on the sector. Intershop's stock closed down 68 percent at $4.81 Tuesday.
Stock futures indicated a mixed open to U.S. share markets. March S&P futures (WP=H1: news, msgs) trimmed 0.30 to 1,299.50, but was about 1 point above fair value, according to figures provided by HL Camp & Company. Nasdaq 100 futures (AH=H1: news, msgs) lost 12.50 to 2,155.00. |
