stock

Tech stocks and the broader markets received a mild case of whiplash Wednesday, as rate cuts by the Federal Reserve and other central banks around the world prompted a brief run up before stocks gave way to yet another consecutive day of losses.

The CNET Tech Index, which includes the likes of Apple, Cisco, eBay, and others, closed down 15.10 points to end the day at 1,189.15, off 1.25 percent.

The broader markets also posted declines, with the Dow Jones Industrial Average giving up 189.01 points, or 2 percent, to end the day at 9,… Read more

Inner8 is a recently launched social-stock picking service. CEO Doug Doyle says the company's mission is to provide an online alternative to the traditional investment advisor, who, he says, typically underperforms the market at large. Obviously, that's never been more true than in recent days, making Doyle's goal to, "steal share from the advice industry," quite modest. If, that is, there remains any industry to steal share from.

Inner8 is indeed a good source of investment ideas, but it's no replacement for an advisor. It's too technical and too involved. You can't … Read more

After a whiplash session on the markets a day earlier, investors were treated to another harrowing ride Tuesday, with the Dow Jones industrial average plunging more than 500 points.

The steep sell-off seems to be partly a reaction to comments from Federal Reserve Chairman Ben Bernanke, who issued a warning Tuesday that the economic malaise could very well continue through the next year.

At the end of the trading day, the Dow closed down 508.39 points at 9,447.11, marking its fourth-consecutive day of losses and a second day where the Dow ended below the 10,000 mark. … Read more

You know it's grim out there when the television talking heads report that the stock market only finished down 369 on a day when it fell as low as 800 points.

With banks disappearing, liquidity drying up, and the political class clueless about events overtaking the economy, this is what a crisis looks like. If you want a good primer on the origins of what's now turning into a global credit crunch, check out the primer, courtesy of 60 Minutes, that I've embedded at the bottom of this post.

The $64,000 question (now $32,000 and … Read more

In the aftermath of another vicious sell-off on Wall Street, CNET's Kara Tsuboi sits down with reporter Ina Fried to discuss what the tech sector is up against.

Republican party operatives in Missouri report the theft of a laptop containing privileged information. The laptop contained "information you'd expect the coordinator for a GOP national campaign to have," such as information on areas to target for support, said Tina Hervey, communications director for the Missouri Republican party.

Also in this podcast, Delta allows for in-cabin Web surfing. But some passengers have been browsing to sites where, um, … Read more

Updated at 1:20 p.m. PDT with closing stock prices.

Tech stocks took another beating on Monday, although shares recovered somewhat in the final two hours of trading.

The Dow Jones Industrial average was down more than 700 points in mid-day trading, but recovered to close at 9,955.50 points, down 369.88 points, or 2.6 percent. The Nasdaq, meanwhile, dropped below 1,800 points, before closing at 1,862.96, down 84.43, or 4.3 percent. The CNET Tech Index closed Monday at 1,267.87 , down 63.1 points, or 4.7 percent.

Several … Read more

The former general counsel of computer security firm McAfee was acquitted on Friday of fraud charges relating to alleged stock options backdating.

Kent Roberts, indicted in February 2007, was found not guilty on two of three felony counts of fraud in San Francisco federal court. The jury, following a two-week trial, was hung on a third count of falsifying accounting records. A mistrial was declared and Roberts could be retried on that count.

Roberts was the first general counsel at a U.S. corporation to be criminally tried for alleged stock options backdating violations, his lawyer's office said.

"… Read more

Microsoft CEO Steve Ballmer expressed hope on Tuesday that the U.S. Congress will take action to address a deepening financial crisis, which he warned could ripple across spending on all levels of the economy.

On Monday, the U.S. House of Representatives rejected a $700 billion bailout plan proposed by the White House.

"I trust that before the end of the week, we have some resolution, at least in the U.S. Congress, that will help to stabilize the situation. We need that; I hope we get that," Ballmer said at a news conference in Oslo, Norway, … Read more

I'm going to try to briefly accomplish in a few paragraphs what it seems to me our government has completely failed to do in this financial crisis.

No, I don't have $700 billion of my own to shell out. But to me, Congress' failure came not today on the House floor, but over the past week as both elected officials and members of the administration failed to translate the crisis into terms that have meaning for everyday Americans.

I've heard the phrases "Main Street" and "Wall Street" a lot, but what I haven't heard is plain explanations of what credit really means and how essential it is to our system of doing business.

Here goes.

If the credit markets should freeze up--which many say is happening and will continue without massive intervention--everyone that borrows money will face a cash crunch. That means companies that take advantage of short-term loans to get by won't be able to buy raw materials or make payroll. Even businesses that don't need short-term capital may defer purchases to preserve capital.

If even banks are having a hard time getting money, what does that say for the small and midsize business? The Wall Street Journal had a story on Monday on how companies like McDonald's may face a squeeze as their franchisees are unable to get loans to purchase or upgrade stores. I suspect that is just one visible example of a growing issue for businesses across the country.

We are stuck trying to move forward with new loans--essentially to keep the economy moving--while dealing with clearly bad ones of the past. While much of the attention has focused on concern over home loans, there are also construction loans and business loans that are at risk of default, risks that grow as those businesses find themselves essentially shut off from getting any new capital, extending the vicious circle.

You don't have to take it from me.

Here's C.H. Low, CEO of social-networking software start-up Orbius and a serial entrepreneur.

"When financial markets don't function well, the ramification is broad," he said in an e-mail interview on Monday. He said he is disappointed that the bailout is so misunderstood. Even the term bailout, he said, is a misnomer.

"This is an asset purchase, not a 100 percent bailout expense to taxpayer," he said. "There is risk but also possibility of making a profit. Government's main function is to do things that private sector cannot handle. This Market Stabilization Bill...is as necessary as having an Armed Forces to defend the country."

Low noted that the main beneficiary is not Wall Street. … Read more