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Technology Stocks : Lucent Technologies (LU)

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To: MRE who started this subject7/23/2002 10:31:47 AM
From: David Hansen  Read Replies (1) of 21876
 
Better-than-expected results from AT&T, SBC Communications help push blue-chip measure higher.
July 23, 2002: 10:02 AM EDT
By Alexandra Twin, CNN/Money Staff Writer


NEW YORK (CNN/Money) - The Dow Jones industrial average clawed out a gain early Tuesday after a better-than-expected result from telecom AT&T.

Around 10 a.m. ET, the Dow Jones industrial average gained 97.20 to 7,881.78. The Nasdaq composite added 10.38 to 1,293.03. The Standard & Poor's 500 index rose 5.74 to 825.67.

Two Dow components in the telecom sector offered positive results. AT&T (T: up $0.34 to $9.86, Research, Estimates) reported an unexpected gain in its second-quarter earnings that topped expectations. The company also said that it should meet or beat profit forecasts for the third quarter. SBC Communications (SBC: down $0.60 to $23.36, Research, Estimates) reported slightly lower second-quarter earnings that topped estimates.
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