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Technology Stocks : Ascend Communications (ASND) -- Ignore unavailable to you. Want to Upgrade?

To: Tech Bull who wrote (33502)	2/5/1998 2:40:00 PM
From: lin huan chen	Respond to of 61433

Early Morning Rally By Tech Stocks Loses Steam NEW YORK (Dow Jones)--An early morning rally Thursday by technology stocks appeared to be good news, but the sector-wide surge appears to be running out of gas. Shares of Microsoft were among several technology stocks that moved up in early trading, but have since lost those gains and slipped below opening levels. The Nasdaq Composite rose to as high as 1701.2 Thursday, up 20.76 points but has since fallen back to 1686.26, up 5.82. The Morgan Stanley Hi-tech 35, an index of 35 tech stocks, rose to as high as 506.81 but has fallen back to 499.34, up 3.84; and the Nasdaq Computer Index rose to 725 before settling back at 715.22, up a modest 2.74 points. Among the stocks riding the roller coaster is Microsoft (MSFT), which rose to as high as 159 1/2 before reversing course to as low as 155 11/16. The stock recently was unchanged at 156 13/16. Meantime, Gateway 2000 Inc. (GTW), is down 1 3/16, or 2.9%, at 39 11/16 after trading as high as 41 5/8 earlier in the session, while 3Com Corp (COMS) has traded in a range as high as 35 7/16 and as low as 31 25/32. Recently, the shares were changing hands at 32 15/16, down 1 13/16, or 5.2%. One exception is Netscape Communications Corp. (NSCP), which is up more than 16% at 22 71/16 on news the company is in talks about a possible sale. The sudden sectorwide change has many analysts puzzled. "We had a huge run. Everyone was jumping into the pool. Maybe someone got out of the pool and the water went down a little," said Jeff Matthews, an analyst with Ram Partners. "It's not like a rumor swept trading rooms that Compaq sales were bad or Microsoft Windows 95 wasn't selling well." Mike Geran, an analyst with the Pershing Division of DLJ, attributed the change to program trading, which can effect volatile stocks like those found in technology. The change, Geran said, should be short term.