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Politics : Formerly About Advanced Micro Devices

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To: tejek who wrote (80677)	11/22/1999 11:48:00 AM
From: tejek	Read Replies (1) of 1573216

Tech stocks trail with chip declines Microsoft gains can't bolster other sagging shares By Cecily Fraser, CBS MarketWatch Last Update: 10:36 AM ET Nov 22, 1999 Tech Report NEW YORK (CBS.MW) -- A jump by shares of Microsoft wasn't enough to vault technology stocks into record territory Monday morning as crumbling chip stocks outweighed the advance. The Nasdaq Composite ($compq), which has a high representation of tech stocks, slid 3.23 points to 3366.19. On Friday, the key barometer claimed its 13th record high in 16 sessions. The Morgan Stanley Technology Index was up 0.5 percent. Microsoft shares jumped 3 3/4, or 4 percent, to 89 11/16 following news that a judge ordered mediation in the government's antitrust case with the software giant (msft). See full story. The CBOE Software Index gained 1.2 percent. Computer hardware stocks lagged behind as the Goldman Sachs Computer Hardware Index fell 0.2 percent, while the Philadelphia Semiconductor Index lost 2 percent. Lehman Brothers analysts reiterated a "buy" rating on shares of Intel (intc), saying that its recently introduced Coppermine products could intensify pressure on rival Advanced Micro Devices (amd) to improve performance and costs. Intel's stock grew a slight 1/4 to 80 1/8, while AMD slid 5/8 to 26 1/2. Also lower: shares of Rambus (rmbs) lost 2 1/16 to 51 5/16, while Micron Technology (mu) fell 7/8 to 69 1/8. See Hardware Report. Shares of IBM (ibm) were up 3 1/16 to 107, adding to Friday's 7-percent gain after analysts at SoundView Technology spoke positively about Big Blue's personal computer business.

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