Job Gains Led By Tech, But Silicon Valley Mixed - NBC Bay Area
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Job Gains Led By Tech, But Silicon Valley Mixed

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    NEWSLETTERS

    The latest job report was reason for a lot of optimism, and most investors jumped in with both hands. But not all Bay Area companies were part of the rally. Scott Budman reports. (Published Friday, Aug. 5, 2016)

    The latest job report was reason for a lot of optimism, and most investors jumped in with both hands.

    According to the Labor Department, more than 250,000 jobs were created over the last month. With tech leading the way, both the Nasdaq and S&P 500 stock indexes soared to all time highs.

    Not a bad way to end the week.

    Not everybody participated in the rally, though.

    Shares of Milpitas-based security company FireEye (FEYE), a former Wall Street darling, were pummeled Friday after reporting weak earnings, and the announcement of 400 job cuts.

    San Francisco’s Zynga (ZNGA) also continues to struggle and its share price tumbled despite the overall surge.

    Scott tracks stocks on Twitter: @scottbudman

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