Arik Hesseldahl

Recent Posts by Arik Hesseldahl

Amid Nasdaq Halt, Tech Companies Plan to Report Earnings On Time

facebook_nasdaqThough trading on the Nasdaq national market has halted for more than two hours as of this writing, at least three all of the four technology companies listed on that exchange scheduled to report earnings today will do so as planned.

Bill Danon, a spokesman for industrial design software firm Autodesk, told AllThingsD that the company will “report quarterly earnings as scheduled.”

I received similar comments from Lori S. Hultin, a spokeswoman for wireless networking company Aruba Networks, and from Joe Reinhart, vice president of investor relations at chip design software firm Mentor Graphics. Update: Holly Zheng a spokeswoman for Marvell just emailed saying “No changes.”

Those are three of the four Nasdaq-listed tech companies scheduled to report quarterly results after the close of trading today. I didn’t hear from the fourth, chipmaker Marvell Technology Group, though it, too, is expected to report after the close today.

Trading on the Nasdaq exchange is expected to resume at about 3:25 pm New York time. Trading was abruptly halted at about 12:15 pm because of a “technical issue” that has yet to be fully explained. Update: Trading did indeed resume at 3:25 pm ET.

The halt, which is going on three hours now, is likely to raise new questions about the stability of the exchange, which suffered badly after the botched IPO debut of Facebook shares last year.

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Just as the atom bomb was the weapon that was supposed to render war obsolete, the Internet seems like capitalism’s ultimate feat of self-destructive genius, an economic doomsday device rendering it impossible for anyone to ever make a profit off anything again. It’s especially hopeless for those whose work is easily digitized and accessed free of charge.

— Author Tim Kreider on not getting paid for one’s work