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Technology Stocks : How high will Microsoft fly? -- Ignore unavailable to you. Want to Upgrade?

To: Bill Fischofer who wrote (4588)	1/2/1998 8:12:00 PM
From: Ibexx	Respond to of 74651

Bill and thread, The following is from Prudential Securities' Larry Wachtel: ...... "Computer stocks rose as investors snapped up shares of companies that have been battered in recent months. The S&P Computer Stock index, which includes Compaq and Hewlett Packard, fell 12% in the fourth quarter. Today, Compaq gained over two points with Hewlett chipping in for a two-point advance. Microsoft gained over a point amid speculation that the software company will unveil a $1 billion investment in telecommunications at next week's consumer electronics show in Las Vegas. Sybase was the major casualty, falling close to four points on negative guidance. Apple Computers was strong, gaining over two points as investors looked ahead to next week's Macworld meeting. Brok Intl. improved on a Goldman Sachs upgrade. Netscape fell for a second day on concern about the quarter. Similarly, Time Warner lost ground on one broker's downside estimate. U.S. bonds rallied, driving yields to the lowest level in more than four years, after a monthly manufacturing report suggested Asia's financial crisis is starting to drag on the U.S. economy. The benchmark 30-year Treasury bond rose over a point, bringing the yield down seven basis points to 5.85%, the lowest since October of 1993. The National Association of Purchasing Managers index declined to 52.5 in December from 54.4 the month before, as slowing growth in Asia and railroad snarls hurt orders and production. The Associations prices paid index also declined. So far the Santa Claus rally remains intact and the January barometer is off to a good start. The question now revolves around Monday when the players all return, the investment committees meet, and the new year is subject to the smell test. " prusec.com Ibexx