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Technology Stocks : Qualcomm Incorporated (QCOM) -- Ignore unavailable to you. Want to Upgrade?

To: TigerPaw who wrote (48493)	11/8/1999 4:05:00 PM
From: T L Comiskey	Read Replies (1) \| Respond to of 152472

Tiger....<partial story.>..(omitted alot of MSFT 'News") Monday November 8, 3:27 pm Eastern Time Dow Up 0.69; Nasdaq Climbs 23 NEW YORK (AP) --................................................................................... Broader stock indicators were slightly higher. The Standard & Poor's 500 index was up 2.58 at 1,372.81, and the Nasdaq composite index was up 23.55 at 3,125.84, extending its string of six consecutive records. Microsoft was down 2 15/16 at 88 11/16. Friday evening, U.S. District Judge Thomas Penfield Jackson ruled the software maker has abused its dominance of the personal computer industry to stifle innovation and competition, hurting consumers. The company's stock fell steeply in early trading, but recovered some of their losses as analysts speculated that Microsoft will eventually negotiate a settlement. Analysts were initially divided on whether the ruling against Microsoft would hurt other technology companies. This morning, many stocks -- especially those that compete directly with Microsoft products -- were higher. ``Other software providers are the big winners in this ruling,' said Don Selkin, chief investment strategist at Joseph Gunnar in New York. ``There's a large number of technology stocks that stand to benefit.' Sun Microsystems, which makes the Java computer programming language, rose 3 7/16 to 113 today. The company has been highly critical of Microsoft's business practices. Red Hat, a leading seller of the Linux operating system, soared 19 7/8 to 106. Linux is an alternative to Microsoft's popular Windows NT system. Microsoft, the world's largest company in terms of market capitalization, holds extra sway over market averages. It is listed on the Nasdaq, and since last week, has been a component of the Dow. Its drop today was equivalent to a loss of about 15 points for the Dow. Microsoft's drop was balanced by IBM, which rose 2 7/8 to 93, and Exxon (NYSE:XON - news), up 3 3/16 to 73 13/16. Most analysts predict a week of quiet trading as investors await the outcome of the Federal Reserve's policy meeting on Nov. 16. The Fed may raise interest rates for the third time this year in an effort to hold off inflation. In recent weeks, however, government economic data has indicated that the economy is slowing a bit, suggesting that the Fed's two rate increases earlier this year may have been enough to keep inflation at bay. ``The Fed may not be justified in raising rates again,' said Selkin. Declining issues outnumbered advancers by a 7-to-5 margin on the New York Stock Exchange, where volume came to 615.31 million shares, well behind Friday's pace. The Russell 2000 index of smaller companies rose 1.73 to 444.14.