Tech stocks slammed as market plunges anew

A bright spot of sorts came from Cisco Systems Inc. , whose shares traded sideways. The stock was down a fraction after all is said and done check, as the networking gear maker prepared for its quarterly results due afterwards the closing bell.

General rule flat were shares of VMware Inc

Also trading as a general rule flat were shares of VMware Inc. , down a fraction finally check. FBR Capital's Daniel Ives upgraded the stock to outperform from market perform, arguing in a note that the company is then positioned in the ongoing trend toward virtualization, which allows businesses to tap disparate computer systems on their premises or in hosted data centers and use that computing capacity based on needs.

"VMware checks continue to suggest that virtualization solutions will continue to be a top priority given its stepping stone status towards cloud computing and overall ability to improve efficiency within data centers, positive dynamics that will bring this innovation to the forefront over the straightway 12 to 18 months," Ives wrote.

Much of the growth in the smart-grid market — innovation that helps utilities and consumers manage and cut energy use — is shifting to Europe and China from the U.S. U.S. companies will be hard-pressed to win business competing against local suppliers in China and Europe, analysts say. ...

Steep correction

With stocks in a steep correction, highflying tech companies have had their wings clipped. Fast-growth companies in hot tech sectors haven't been immune to the tumble of recent days, with many starting their slides previously the rout of the past three trading days. Cloud-computing favorite VMware ...