To: Tom Kearney who wrote (48168 ) 2/19/1998 5:23:00 PM From: Joey Smith Respond to of 186894
All: Erika came thru for us today...or is this a SELL signal <ggg>. Also, notice that DELL said transition to PII going FASTER than expected. Joey Dell And Intel Propel Techs And Nasdaq (02/19/98; 12:08 p.m. EST) By Larry Dignan, TechInvestor Dell and Intel teamed up to push technology issues higher Thursday even though the Dow Jones Industrial Average stumbled. After six straight record closes, the Dow slumped 75.48 to 8375.58 as investors cashed in gains. The technology-heavy Nasdaq closed up 11.28 to 1727.01. Intel [INTC] was up 3 5/8 to 90 9/16 after BT Alex Brown upgraded the company to strong buy from market perform. Dell [DELL] soared 9 9/16 to 122 3/4, or 8 percent, after the company reported a strong fourth quarter and announced a stock split. In a conference call following the announcement, CEO Michael Dell said the PC industry will be healthy for 1998, and the transition to Intel's new chips is moving faster than anticipated. Compaq [CPQ] was unchanged at 35, and Hewlett-Packard [HWP] gained 1 15/16 to 65 1/16. WorldCom [WCOM] was also heavily traded, adding 1/16 to 38 7/16 after announcing fourth quarter earnings of 15 cents a share, in line with Wall Street estimates. Applied Materials [AMAT] gained 7/8 to 37 11/16. Executives said on Wednesday the long-term future of chip gear makers was strong. Fellow chip equipment company KLA-Tencor [KLAC] gained 1 15/32 to 44. But executives at an investment conference in New York said Thursday softness in Japan may affect KLA-Tencor revenue in upcoming quarters. Lam Research [LRCX] was up 1/8 to 29 7/16. ADC Telecommunications [ADCT] gained 2 7/16 to 25 after reporting first quarter earnings of 19 cents a share. The company also said it sees improvement for the rest of 1998. Electronic Arts [ERTS] was also a big gainer, jumping 4 3/8 to 44 3/16 after announcing it would base an interactive golf gameon Tiger Woods. Computer Sciences [CSC] fell 5 3/4 to 103 1/2 after turning down Computer Associates' hostile takeover bid. CA [CA] gained 1/16 to 47 1/16. Among other movers, Sun Microsystems [SUNW] gained 1 5/8 to 47, Microsoft [MSFT] added 1/4 to 154 7/8, and Cisco [CSCO] was down 1/16 to 65 7/16 after its latest acquisition. Iomega [IOM] was down 1/8 to 8 7/8, and Lucent [LU] surged another 1 11/16 to 99 11/16.