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To: Dealer who wrote (32155)	9/7/2000 12:59:41 PM
From: Dealer	Respond to of 35685

Technology Stocks Hold Strong Gains Thursday September 7 12:50 PM ET By Haitham Haddadin NEW YORK (Reuters) - Technology stocks held onto strong gains at midday on Thursday, as investors snapped up heavyweight names that were mauled this week after analysts warned about the sector's sluggish growth prospects. But blue chips were held back by resurfacing concern over corporate profits after two leading companies, including chemical giant DuPont Co. (NYSE:DD - news), said their profits would fall below forecasts. The technology-laced Nasdaq Composite Index (^IXIC - news) jumped 69.3 points, or 1.73 percent, to 4,082.64, bouncing back nicely after plummeting 130 points on Wednesday. Some analysts said the Nasdaq's slide had been overdone. ``Some bargain hunters may be lured in at this time because of the very sharp drop in technology sector on Nasdaq,'' said Alan Ackerman, senior vice president and market strategist at Fahnestock & Co. in New York. But he also said that there are still many investors who may wait to see how much more damage will be done to the Nasdaq before they put more money to work in stocks. Meanwhile, DuPont, a component of the blue-chip Dow Jones industrial average, was off $4-7/16 at $42-9/16, after it warned that earnings this year would fall short of Wall Street forecasts due to a weak euro, Europe's single currency, and rising raw material costs. The Dow (^DJI - news) was down 33.39 points, or 0.3 percent at 11,277.25. The broader Standard & Poor's 500 Index (^SPX - news) was up 8.73 points, or 0.59 percent at 1,500.98. Among other Dow components, leading aluminum company Alcoa Inc. (NYSE:AA - news), fell 5/8 to $33-1/16. ``You're getting some end of the quarter jitters ... and the Dupont announcement clearly doesn't help, it's a big name,'' said James Crawford, senior vice president at Trevor Stewart Burton & Jacobsen Inc. ``We are going to be in this period of volatility until we get some earnings reports. I think the prospects are that third quarter earnings, completed and aggregated, should show further slowdown year over year,'' he said. But strong gains in Dow components and computer giants Hewlett-Packard (NYSE:HWP - news) and International Business Machines (NYSE:IBM - news), helped offset some of the pressure. Hewlett-Packard rose $3-5/16 at $124-7/16 and IBM added $1-13/16 at $133-1/4., Another warning came from Circuit City Stores Inc. (NYSE:CC - news) which said quarterly earnings would fall below its previous forecast, due to costs associated with the retailer's decision to exit the major appliance business. Circuit City Group was off $1-1/4 at $26-1/2. Meanwhile, the Nasdaq was pulled higher by broad gains in key companies, including software giant, Microsoft Corp. (NasdaqNM:MSFT - news), which rose $1-1/4 to $70-11/16. Other big gains included No. 1 chip maker Intel Corp (NasdaqNM:INTC - news), Internet infrastructure giant Cisco Systems (NasdaqNM:CSCO - news) and computer software giant Oracle Corp (NasdaqNM:ORCL - news). Telecommunications firms, which fell recently in sympathy with the computer sector, also rebounded. Among those JDS Uniphase (NasdaqNM:JDSU - news) , was up $2-1/2 at $119-1/4. The Philadelphia semiconductor index (^SOXX - news) was up a hefty 3.25 percent. The Nasdaq was also being helped by a surge in biotechnology issues. The Nasdaq biotech index (^IXB - news) shot up 3.74 percent. Crawford said Nasdaq's recent hammering was not totally unexpected as investors pocketed profits from the market's strong rally in August, especially after analysts cut their investment ratings on big names like Intel and Micron Technologies (NYSE:MU - news). ``I don't think the slowdown in the (U.S.) economy, assuming that it continues, is going to be major factor in the demand picture for technology users and telecommunications,'' he said, explaining why some investors may be discounting the recent bearish views on the techs.

To: Dealer who wrote (32155)	9/7/2000 1:15:59 PM
From: Dealer	Respond to of 35685

SNDK--Sandisk to supply Ericsson with memory for HPM-10 SAME STORY DIFFERENT TWIST LOS ANGELES, Sept 7 (Reuters) - Data storage company SanDisk Corp. (NasdaqNM:SNDK - news) on Thursday said it will supply Swedish telecommunications giant Telefon AB L.M. Ericsson with the memory card for its new digital music player called the HPM-10. Sandisk shares were up $4-13/16 at $87 on the Nasdaq market system after the news announcement, which was made in Stockholm. About the size of a matchbook, the HPM-10 plugs into several of Ericsson's new mobile phones, then uses MP3 technology to download and play back music off the Internet. It will use the 32-megabyte Sandisk MultiMediaCard, which uses flash memory to store about a half-hour of music, to hold the songs for playback. The HPM-10 automatically stops playing for incoming calls, allowing the listener to take the call, then resumes after the call is finished. The HPM-10 will be available before the end of the year in Europe, SanDisk said in a statement. Sunnyvale, Calif.-based SanDisk is a major supplier of flash data storage products.