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The bad news from tech stocks didn't end there. After the closing bell, Zynga, the maker of online video games like "Farmville," slashed its forecast for full-year earnings, blaming delays in launching new games, dwindling revenue from existing web games and a "more challenging environment" on the Facebook platform. The stock plunged $2.04, or 40 percent, to $3.05 in after-hours trading. In other corporate news, computer security provider Symantec soared $1.79 to $14.96. The company announced the departure of its CEO, Enrique Salem, and reported earnings per share and revenue came in well ahead of Wall Street's estimates. WellPoint, the nation's second largest insurer, lowered its earnings forecast. Its stock fell $7.41, or 12 percent, $54.01, the biggest one-day drop for the stock in more than three years. The insurer said enrollment has been slipping as companies cut jobs. Corning said its second-quarter profit sank 39 percent on lower sales volumes and prices of its liquid-crystal-display glass products. Its stock fell 93 cents to $11.14, or 8 percent. Stock in RadioShack plunged $1.05, or 29 percent, to $2.60, an all-time low for the electronics retailer. The company reported an unexpected loss for its second quarter and suspended its dividend. In Europe, stock indexes mostly higher. A European Central Bank policymaker said the region's bailout fund should be given the power to borrow money from the central bank, increasing its financial resources. That would be necessary if Spain asked for a bailout. The yield on the Spain's 10-year government bond fell to 7.37 percent from 7.53 percent late Tuesday. That's a positive sign that investors are slightly less worried about Spain's ability to repay its debts.
[Associated
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