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Technology Stocks : Hewlett-Packard (HPQ) -- Ignore unavailable to you. Want to Upgrade?

To: MeDroogies who wrote (195)	5/8/2002 12:33:53 PM
From: Lynn	Respond to of 4345

Dow Surges 250-Plus Points After Cisco Report Wed May 8,11:48 AM ET NEW YORK (Reuters) - Stocks bolted higher in late morning on Wednesday after technology bellwether Cisco Systems Inc. reported profits that more than tripled, giving investors confidence to jump back into stocks amid hopes of a turnaround in corporate profits. The technology-loaded Nasdaq composite index surged more than 5.77 percent, on track for its biggest one-day gain since early October, as tech shares, including Cisco rival Juniper Networks Inc., climbed. The Nasdaq has fallen all but three sessions out of the past 16. The Nasdaq was up 90.01 points, or 5.72 percent, at 1,663.83. The Dow Jones industrial average was up 256.85 points, or 2.61 percent, at 10,093.40. The broader Standard & Poor's 500 Index was up 30.5 points, or 2.91 percent, at 1,079.99. Cisco, the world's largest maker of gear that directs Internet traffic, rose $2.63, or 20.2 percent, to $15.72 after posting quarterly profits that more than tripled as cost-cutting efforts paid off. Cisco said spending has improved for the battered information technology sector. The report raised hopes of an imminent turnaround in its bruised business. Rival Juniper Networks rose 97 cents, or 11.3 percent, to $9.39. story.news.yahoo.com