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Technology Stocks : All About Sun Microsystems -- Ignore unavailable to you. Want to Upgrade?

To: QwikSand who wrote (23183)	11/19/1999 5:30:00 PM
From: QwikSand	Respond to of 64865

I guess SUNW didn't rate a mention in this story because we only did a paltry 11 million shares while the big boys did in the 20's. --QS NEW YORK, Nov 19 (Reuters) - The Nasdaq composite climbed to yet another all-time high Friday, extending ovember's almost relentless ascent led by a narrow band of high-technology companies. The composite added 22 points to close unofficially at 3369, a gain of 0.66 percent. During the day, the measure reached 3373. During this week's five sessions, the composite rallied 148 points amid unprecedented volume. Friday brought the thirteenth record close for the Nasdaq composite in 16 trading sessions. Friday's volume was about 1.42 shares traded, very heavy but short of the record 1.65 billion shares two days ago. The breadth of Friday's advance was negative, as 2060 stocks fell versus 1982 ending the day higher. In the Nasdaq 100, home of the market's largest companies, 49 names fell, 46 advanced and five were unchanged. Overall, U.S. equity markets were mixed Friday as the Standard & Poor's 500 slipped three points to 1422 and the Dow Jones Industrial average gave back 32 points to end at 11003. "It is hard to kill something when it has such strong momentum," said Joseph Barthel, chief investment strategist, Fahnestock & Co., of the Nasdaq record. "The advance-decline line for the Nasdaq 100 has been very anemic, and it is really associated with the Qualcomms of the world, and three or four other names that have really taken the Nasdaq and the Nasdaq 100 to higher ground, and the probability is we are going to continue with that kind of trend," he said. Qualcomm, a provider of digital wireless communications, climbed 11-1/4 to 367-1/16, extending its blazing run from about 200 just one month ago. "By and large they are not done buying these names. There is going to be a premium on companies that have at least foreseeable growth into the next millennium and techs are the place," Barthel said. Microsoft Corp. (NASDAQ:MSFT) rose 1-1/16 to 86, Intel Corp(NASDAQ:INTC) added 1-3/8 to 79-7/8 and Dell Computer Corp.(NASDAQ:DELL) was 3/8 better at 41-5/16. Also, Nasdaq's white-hot market for new issues showed no signs of cooling. CacheFlow Inc.'s (NASDAQ:CFLO) $24-per-share initial public offering was followed by market appreciation of more than 425 percent, the share closing at 126-3/8. The company, based in Sunnyvale, Calif., makes equipment that speeds up online performance. Copyright 1999, Reuters News Service