Gm Technologies Inc. fell 0.4% in afternoon trading on Tuesday after the company reported disappointing fourth-quarter revenue.
The Los Angeles-based company said net sales of its mobile phones, computers and other electronic devices fell for the year.
The company also said its business sales declined for the fourth quarter, although that was offset by a gain in revenue.
Gm said its gross margin declined at least 8%, which was a significant drop from a year earlier.
Shares fell 8.5% in the prior session.
Gm said revenue for the period was down 3% from a Year-over-Year increase of 12%.
The company reported revenue of $7.5 billion, which is a 9% decline from the previous year.
Its profit was $6.3 billion, or a 4% decline.
The earnings per share was $2.35.
The analyst firm says the company is on track to achieve its guidance of a profit of $2 a share this year.
Analysts are looking for Gm to post a $1 billion profit for the quarter.
GmbH’s revenue rose 4% from the same period last year.
Shares of Micron Technology fell 2% in early trading on Monday, the company’s largest single-day drop since the end of March.
Micron’s shares are up nearly 27% over the past year.
Micron shares fell about 2% on Monday in trading after the European Union announced a ban on all imports of semiconductors from the U.S. and Canada.
Microns shares fell $8.40.
The European Commission says that Micron and other companies are breaching EU rules on imports of the semiconducting material by selling semiconducted materials to third parties.
The move is intended to prevent a rise in the cost of the materials used in the technology used in smartphones, tablets and other electronics.
Micons shares fell by 2.9% to $3.78 in early trade.
The Dow Jones Industrial Average DJIA, +0.19% gained 4.9%, or 94 points, to 23,846.93.
The S&P 500 SPX, +1.21% added 2.4%, or 78 points, for a gain of 0.9%.
The Nasdaq Composite Index COMP, +2.29% gained 8.9, or 0.6%, to 5,742.90.