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Rating:Bad Google: Fat-Fingered Results Shake Two ETFs Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, October 19, 2012

Bad Google: Fat-Fingered Results Shake Two ETFs

News summary by MFWire's editors

It's not often financial reporters write bad things about Google, but yesterday was one of those days. And the bad news even extended to ETFs.

Two ETFs with large allocations the tech giant were affected by the company's slacking results.

Benzinga reports that the First Trust Dow Jones Internet Index Fund (FDN) and PowerShares NASDAQ Internet Portfolio (PNQI) were both hit. FDN's trading volume went down 1.6 percent midday.

According to the report, shares of Google were halted by the request of the company.

PNQI's trading volume also went down almost 2 percent which is 50 percent higher than usual.

Google's revenue was pegged at $11.33 billion, which is lower than the $11.86 billion predicted by analysts.

 

Edited by: HFD


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