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Technology Stocks : COMS & the Ghost of USRX w/ other STUFF -- Ignore unavailable to you. Want to Upgrade?

To: Moonray who wrote (15848)	6/4/1998 7:49:00 PM
From: Glenn D. Rudolph	Read Replies (1) \| Respond to of 22053

Alert: Tech stocks stage a rebound United Press International - June 04, 1998 18:59 %FINANCIAL %STKS %MOVERS V%UPI P%UPI NEW YORK, June 4 (UPI) - Technology issues staged a fairly solid rebound in choppy trading Thursday after Wednesday's sell-off amid earnings worries, while other stocks moved on merger and earnings news. Bay Networks topped the Big Board actives, jumping 3 to 30 15/16 amid takeover speculation. Northern Telecom, the Canadian telecommunications equipment maker, was said to be bidding for the computer networking products maker. Northern Telecom fell 1/2 to 62 1/16. Compaq Computer was next, easing 1/8 to 27 1/2. Among the other technology issues, Dow components IBM rose 2 3/16 to 116 1/16 and Hewlett-Packard gained 1 to 61 11/16, while Texas Instruments climbed 2 7/8 to 50 7/8, Micron Technology advanced 1 1/4 to 23 3/4 and Motorola added 11/16 to 51 1/2. Intel was Nasdaq's second most active issue, rebounding 2 1/4 to 68 3/16. The semiconductor giant tumbled Wednesday amid rumors it would issue a warning about its second-quarter earnings due to pricing pressure. After the market closed, Intel said it hasn't changed the earnings guidance it's giving to analysts. Dell Computer was third, climbing 4 1/4 to 84 1/2. Microsoft also rose 1 3/4 to 86 1/16, Cisco Systems gained 2 1/4 to 76 7/8, Oracle climbed 1 1/4 to 24 13/16 and Sun Microsystems rose 2 9/16 to 44 7/16. DSC Communications Corp. led the Nasdaq actives, soaring 7 13/16 to 27 1/2, or a gain of 39.6 percent, after agreeing to be acquired by the French company Alcatel Alsthom in a stock deal valued at $4.4 billion. But Alcatel, which said the deal will expand its presence in the U.S. telecommunications equipment market, dropped 4 5/16 to 39 1/8 on the NYSE. Telxon Corp. jumped 4 1/8 to 35 15/16 as rumors continued to circulate that Symbol Technologies Inc. still wants to purchase the maker of hand- held computers despite Telxon's rejection of Symbol's unsolicited bid on Tuesday. Symbol, which makes bar code laser scanners, rose 11/16 to 34 15/16 on the NYSE. Elsewhere on Nasdaq, Northwest Airlines Corp. skidded 2 13/16 to 39 13/16 after warning late Wednesday its second-quarter earnings will be ''significantly below'' last year's levels due to strikes and ''continued weakness in the Pacific economy.'' Cleveland Indians Baseball Co. closed at 14 3/4 on its debut. The baseball company's initial public offering of 4 million shares of its class A common stock was priced at $15 a share. It trades on Nasdaq under the ticker symbol CLEV. -- Copyright 1998 by United Press International. All rights reserved. --