Let the news keep coming in!!!!Related Quotes
FON
MDCM
NTOP
46 5/8
15 3/8
70 1/8
+15/16
+7 3/16
+17
delayed 20 mins - disclaimer
Wednesday August 25, 5:04 pm Eastern Time
Nasdaq rallies to fourth straight gain
NEW YORK, Aug 25 (Reuters) - Nasdaq stocks ended higher on Wednesday, posting their fourth consecutive gain as large cap technology and Internet stocks led the advance.
The Nasdaq composite index rose an unofficial 53.23 points, or 1.9 percent, to close at 2805.60. With the gains, the technology-laden index is now about two percent shy of its record closing high of 2864.48, set on July 16.
``It looks like the money is all in the technology stocks,' said Guy Truicko, portfolio manager at Unity Management.
Despite strong gains in the index, broad indicators remained lackluster. Declining issues slightly outnumbered advances on the Nasdaq. Volume totalled about 1.0 billion shares.
Recent initial public offering Mortgage.com Inc. (Nasdaq:MDCM - news) tallied Nasdaq's sharpest gains, surging 88 percent to finish at 15-3/8, a new high for the Internet mortgage company whose market debut fizzled in early August, when new issues were going through a broad weak spell.
Net2Phone Inc. (Nasdaq:NTOP - news) surged 32 percent to finish at 70-1/8, extending a recent strong rally. The Internet phone company said Sprint Corp. (NYSE:FON - news) would test its technology and network for international phone calls to Asia. Sprint closed at 46-5/8, up 15/16. |
