The NASDAQ 100 (NDX) is down 0.48% mostly because of concerns over the ability of industry leaders, like Intel (INTC), to maintain growth as the PC industry slows down.
Intel (INTC) stock was down after the company reported mixed earnings and provided flat guidance. Currently, the share price is down 4.35%.
Semiconductors & Equipment
iShares PHLX SOX Semiconductor Sector (SOXX): -0.48%
Overall, semiconductor stocks were down due to Intel’s guidance of flat growth, based on declining PC shipments. Hence, the overall sentiment remained negative with the company’s peers also witnessing a decline in their share price.
Intel (-4.35%) reported its fourth quarter (4Q) earnings for fiscal year 2013 (FY13), recording revenues of $13.83 billion and EPS of $0.51. Analysts expected revenues of $13.7 billion and EPS of $0.52. The company expects revenue growth to remain flat for FY14, whereas analysts expect growth of 1.2%.
Other Semiconductor Stocks
Advanced Micro Devices (AMD): -4.91%
Nvidia Corporation (NVDA): -0.19%
ARM Holdings (ARMH): -0.12%
Micron Technologies (MU): -0.3%
Qualcomm Incorporated (QCOM): -0.16%
Marvell Technology Group (MRVL): 0.27%
Avago Technologies (AVGO): 1.14%
Internet Software & Services and Social Media
Global X Social Media Index ETF (SOCL): -0.41%
Overall, the Social Media ETF is down 0.41% due to decline in stocks of major players like LinkedIn Corp. (LNKD), AOL, Inc. (AOL), Zynga (ZNGA), Sina Corp. (SINA) and Yahoo! (YHOO).
LinkedIn: 2.71% down after rallying 6.7% yesterday
LinkedIn’s stock price was up after the company hired a new executive, Derek Shen, to promote the social network in China. Derek was founding CEO of Nuomi, a Chinese group-buying service similar to Groupon (GRPN).
AOL: 3.6% down after rallying 11% yesterday
AOL has struck a joint venture with Hale Global and will hand over a major stake of its network of local news websites – Patch – to the firm. Hale Global is a New York-based investment firm and turnaround specialist, and will look after the network, which is losing money.
Zynga: 1.1% down after declining 12% yesterday
Zynga was down after Sterne Agee downgraded the stock to neutral. Sterne Agee thinks that the company’s guidance for the first quarter of this year is likely to be disappointing. Moreover, Zynga has shut down one of its oldest games, YoVille.
Yahoo: 0.84% down after declining 1.78% yesterday
Yahoo! (YHOO) stock fell after the dismissal of COO, Henrique De Castro and there are still concerns about company’s ability to grow its advertising revenues.
Sina Corp.: 6.3% down after declining 4.75% yesterday
Sina Corp. stock fell after reports came in that its microblogging service Weibo, which is similar to Twitter, witnessed a 9% decline in its user base.
1- China Mobile (CHL) has started offering the iPhone from today. The deal with Apple (AAPL), which took six years to materialize, has finally come through. China Mobile is the world’s largest carrier with more than 750 million subscribers. According to the company, pre-orders for the iPhone had reached about one million units as of Jan 15.
2- Nintendo’s (NTDOY) stock price was down 2.76% as it expects a net loss of $240 million for the current fiscal year and has cut its sales estimates for the Wii U console from nine million units to 2.8 million units.
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