Toronto stocks were lower for a fourth straight day Friday following news that tech bellwhether Nortel Networks will again delay an earnings release.

Shortly after midday, he S&P/TSX composite index was down 89 points, or 0.94%, at 9,320.69.

Volume was 114 million shares.

Nortel shares fell 14¢, or 4.33%, to $3.09 after it said late on Thursday that it will miss a regulatory deadline to file first-quarter results. The news helped pull the overall tech group down 2.34%.

Nine of the TSX’s 10 main groups were in the red.

Energy companies pulled back 1.91% as oil prices eased below US$51 a barrel.

In New York, U.S. stocks fell for the third consecutive session on Friday as disappointing results from IBM revived concerns about a slowdown in the U.S. economy and weakening corporate earnings growth.

At midday, the Dow Jones industrial average was down 82 points at 10,197. The S&P 500 was down 8 points at 1,154. The tech-heavy Nasdaq composite index was down 23 points at 1,923.