Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Intel Corporation (INTC) -- Ignore unavailable to you. Want to Upgrade?

To: ratan lal who wrote (49899)	3/6/1998 12:18:00 PM
From: Marc A. Bttcher	Read Replies (1) \| Respond to of 186894

"Yesterday was completely overdone" said Nick Moore,portfolio manager at Orbitex Management.'' Friday March 6, 11:39 am Eastern Time Wall Street stocks extend gains as techs rally NEW YORK, March 6 (Reuters) - Wall Street brushed off the second earnings warning in two days by a major U.S. company and extended gains on Friday as technology stocks rallied. At 1127 EST/1627 GMT, the Dow industrials were up 78 to 8522 while the technology-heavy Nasdaq compose rose 26.83 points or 1.57 percent to 1738.75. A warning by Motorola Inc (MOT - news) of disappointing first-quarter results on Friday came one day after the market sold off on a similar announcement by Intel Corp (INTC - news). ''Yesterday was completely overdone,'' said Nick Moore, portfolio manager at Orbitex Management.'' ''The market is actually a bit savvy about the idea that this is the fourth consecutive quarter Intel has had trouble and how long has it been since Motorola had a good quarter?'' Moore added. Motorola was trading off 2-4/16 to 53-7/16. But Intel was recovering from losses on Thursday, gaining 2-2/16 to 77-11/16 and the most actively traded stock on the Nasdaq. The benchmark U.S. 30-year Treasury bond was unfazed by a stronger-than-expected February employment report, rising 22/32 with the yield down to 6.02 percent. --------------------------------------------------------------------------------