NEW YORK, Oct 9 (Reuters) - Small- and mid-capitalizationstocks fell o n Tuesday, with shares of Super Micro Computer Inc
dropping after it gave a disappointing revenue outlook.
Shares of Super Micro Computer were down 11.7 percent at$9.39 after it said revenue for its first quarter will be at thelower end of its forecast. It also said lower prices for harddisk drives hurt its net profit.
Investors have been bracing for earnings disappointmentsfollowing a slew of warnings from companies about theirthird-quarter results.
Third-quarter results for S&P 500 companies begin after thebell with a report from aluminum company Alcoa
Among other big decliners, shares of Penn Virginia Corp
tumbled 16.1 percent to $5.48 after the oil and gasproducer offered 12 million shares of its common stock and $50million of depositary shares representing convertible preferredequity.
The S&P MidCap 400 index was down 0.9 percent whilethe S&P SmallCap 600 index was down 1.2 percent. Incomparison, the benchmark S&P 500 was down 0.9 percent.
Other companies that saw big losses on Tuesday includedSotheby's Holdings , whose shares were down 4.5 percentat $30.42. The company said it sold HK$2 billion ($258 million)worth of Asian and Chinese artwork and luxury goods in itsautumn sales in Hong Kong, down 37 percent from the same periodlast year as the market consolidates on a weaker China economy.
(Reporting By Caroline Valetkevitch; Editing by Theodored'Afflisio)
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Keywords: MARKETS STOCKS/SMALLMID