Nasdaq is sinking

Actually, the WSJ is using the word "plunging." Tech issues, which had been holding up pretty well in this topsy-turvy goose-pimply market, are really taking it on the chin. Even Google is getting hit, down more than 5 percent. Cisco's disappointing earnings apparently got investors spooked this morning - along with CEO John Chambers speaking of a "dramatic"' decline in sales to automobile and financial companies. The numbers were actually in line with analysts expectations, but Wall Street likes to see a company like Cisco do better than that. Well, what's the use in pussy-footing - they're just looking for any old excuse to sell. Here's a Bloomberg story.


More by Mark Lacter:
American-US Air settlement with DOJ includes small tweak at LAX
Socal housing market going nowhere fast
Amazon keeps pushing for faster L.A. delivery
Another rugged quarter for Tribune Co. papers
How does Stanford compete with the big boys?
Those awful infographics that promise to explain and only distort
Best to low-ball today's employment report
Further fallout from airport shootings
Crazy opening for Twitter*
Should Twitter be valued at $18 billion?
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Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
 
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
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