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Software industry

Technology Stocks Decline Ahead of Bell, Microsoft Suffers Despite Rating Downgrade

Strategic Insights

— 1 min read

The Dow Jones U.S. Technology Index closed at 597.43 on Friday, with top technology stocks experiencing a decline. Microsoft (MSFT) shares fell 1.7% pre-market after Goldman Sachs lowered its rating to neutral, citing concerns over personal computer sales. Other notable stocks, including Apple (AAPL), IBM (IBM), Cisco Systems (CSCO), and Google (GOOG), also experienced losses. Meanwhile, the FCC is investigating Verizon Wireless for charging 15 million customers mystery fees for data use on their cell phones. Additionally, Ericsson announced it will not participate in bidding for Indian telecom giant BSNL's GSM auction.

Key Takeaways:

  • The Dow Jones U.S. Technology Index closed at 597.43 on Friday, indicating a decline in technology stocks.
  • Microsoft (MSFT) shares fell 1.7% pre-market after Goldman Sachs lowered its rating to neutral, citing concerns over personal computer sales.
  • Apple (AAPL), IBM (IBM), Cisco Systems (CSCO), and Google (GOOG) also experienced losses, with MSFT being the largest decline.
  • Verizon Wireless is under investigation by the FCC for charging 15 million customers mystery fees for data use on their cell phones.
  • Ericsson announced it will not participate in bidding for Indian telecom giant BSNL's GSM auction.
  • The FCC investigation into Verizon Wireless could have significant implications for the industry, potentially leading to increased transparency and accountability.
  • The decline in technology stocks could be attributed to various factors, including concerns over personal computer sales and the ongoing FCC investigation.
  • The SmarTrend Alert system indicated a downtrend for MSFT on 08-27-2010, while NOK and SI were identified as uptrends on 08-03-2010 and 09-03-2010, respectively, according to Comtex SmarTrend Alerts on 09-30-2010.

Statistics:

  • The Dow Jones U.S. Technology Index closed at 597.43 on Friday.
  • MSFT shares fell 1.7% pre-market after the rating downgrade.
  • The FCC is investigating Verizon Wireless for charging 15 million customers mystery fees.
  • Ericsson will not participate in bidding for BSNL's GSM auction.
  • As of 09-30-2010, the SmarTrend Alert system indicated a downtrend on 08-27-2010 for MSFT @ $23.77, an uptrend on 08-03-2010 for NOK @ $9.65, and an uptrend on 09-03-2010 for SI @ $96.50.

Sources:

  • MidnightTrader.com, "Boston, Oct 04, 2010 (MidnightTrader via COMTEX)"
  • Comtex SmarTrend Alerts, "As of Thursday, 09-30-2010 23:59"
  • Comtex News Network, Inc., "Copyright 2004-2010 Comtex News Network, Inc. All rights reserved."

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