USRF mentioned.
(COMTEX) B: Hardware, Chips Lead Tech-Sector Comeback
B: Hardware, Chips Lead Tech-Sector Comeback
Dec 15, 1998 (Tech Web - CMP via COMTEX) -- Hardware and chip stocks
led a technology sector rebound Tuesday.
After Monday's shellacking, the Nasdaq Composite Index regained 45.41
to 2012.33. The Dow Jones Industrial Averaged advanced 127.70 to
8823.30.
Computer makers and chip manufacturers gained on optimism about
prospects for the PC industry. Intel [INTC] gained 4 3/16 to 115 3/4,
Dell [DELL] picked up 13/16 to 65 9/16 and Compaq [CPQ] rose 15/16 to
41 13/16. IBM [IBM] increased 2 5/16 to 165 3/16. Applied Materials
[AMAT], the largest maker of equipment for chip manufacturing, rose 1
1/2 to 40 5/8.
Big Blue also helped PeopleSoft [PSFT], which closed up 5/16 to 17 5/16
on continued optimism about the enterprise-software company's deal to
bundle its human-resources product with IBM's payroll software.
Cisco [CSCO] rose 3 3/8 to 83 3/4. The network company said, without
disclosing financial terms, that it won a two-year contract to provide
ATM equipment to MCI WorldCom.
Oracle and Sun Microsystems continued to gain ground following their
recent agreement to license technology from each other. Oracle [ORCL]
rose 2 7/16 to 39 9/16 and Sun [SUNW] advanced 3 7/8 to 80 1/8.
Microsoft [MSFT], whose Windows NT operating system is the main
competitor to Sun's Solaris OS, rose 3 15/16 to 131 7/8. Redmond,
Wash.-based Microsoft plans a strategic alliance with Cambridge
Technology Partners.
America Online [AOL] moved up 3 3/4 to 93. The world's largest ISP, in
a joint venture with Venezuela's Cisneros Group, plans to roll out
Spanish- and Portuguese-language services in Latin America.
Internet Media [USRF] advanced 1 5/8 to 3 1/8. The little-known company
this week rolled out wireless technology that lets businesses access
the Internet at speeds comparable to copper T1 lines, at cheaper cost.
Web portal company Infoseek [SEEK], which is now putting its Go Network
site through a public beta, went up 6 5/16 to 47 1/2.
Infospace [INSP], an aggregator of Web content, rose 5 to 20 on its day
of public trading.
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Copyright (C) 1998 CMP Media Inc.
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