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AFTER THE BELL - Stocks rest after record session
Reuters Story - August 06, 1997 17:18
%DPR %ENT %US %BUS %STX %XHR/US MSFT AAPL CIEN V%REUTER P%RTR
NEW YORK, Aug 6 (Reuter) - Stocks seemed to need a breather
after Wednesday's record run on Wall Street.
Traders said there was little after-hours activity, with
only a few stocks trading at or near their closing prices.
"It was a good day, a busy day in the Street, a lot of
volume, but nothing that popped after the close," one dealer
said.
Trading continued in Microsoft Corp and Apple
Computer Inc , but stayed in-line with their closing
figures.
Apple surged 33 percent to 26-5/16 earlier Wednesday, after
Microsoft announced it would invest $150 million into the
ailing computer maker. Microsoft closed up 2/16 at 143-7/16.
The news fueled a tech rally that pushed Nasdaq to its
sixth consecutive record close and also broke four languishing
sessions for the Dow, which gained 72 points to hit a new high
at 8259.
One stock that lost after the close was CIENA Corp
, which fell to 51-1/2 from a close of 54-3/16.
The company issued a positive third quarter outlook after
Wednesday's market close, but cautioned there could be
moderating sequential growth in the fiscal 1997 fourth quarter
and first quarter of fiscal 1998.
The New York Stock Exchange said session one had volume
28,500 compared with 37,500 Tuesday and session two had volume
of 4.0 million, compared with 320,241.
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