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Technology Stocks : Compaq -- Ignore unavailable to you. Want to Upgrade?

To: Urlman who wrote (45543)	1/27/1999 8:45:00 AM
From: Steven N	Read Replies (1) \| Respond to of 97611

Click Here For More Information Search news for: Search by:Keyword Ticker Search Keyword examples: "general motors", bio technology and venture, yen Symbol: Sponsored by: U.S. stocks seen opening higher Reuters Story - January 27, 1999 08:22 By Ian Simpson NEW YORK, Jan 27 (Reuters) - Wall Street stocks were seen opening higher Wednesday, propelled by follow-through from Tuesday's rally and strong earnings from Compaq Computer Corp. . Analysts said the technology sector again would lead markets higher. Wall Street will be keeping an eye on Brazil's economic woes and President Clinton's impeachment trial in the Senate. "I think we're going to follow through on yesterday's rally," said Arthur Hogan, chief market analyst at Jefferies & Co. in Boston. "Once again we're having upside surprises" from company earnings. U.S. markets closed higher Tuesday on good earnings and stock splits, with the Dow Jones industrial average rising 121.26 points to 9324.58. The Nasdaq composite index was up 64.10 points to 2433.41. The Dow could open 25 to 50 points higher, Hogan said. The blue-chip index is holding to a pattern of "up 200, down 200" as it tests the year's high and then eases, he said. Thom Brown, managing director of Rutherford Brown and Catherwood, said a relative handful of stocks was leading U.S. markets higher. "That's not a healthy sign for the market going forward, but for today we're in good shape," he said. Firm European markets will underpin a strong U.S. opening, he added. The technology sector could take heart from Compaq's results. The world's biggest personal computer maker posted 1998 fourth-quarter earnings of $0.43 per diluted share, well above Wall Street forecasts. Among other big corporations reporting results, telephone company Bell Atlantic Corp. posted fourth-quarter earnings in line with forecasts. Among economic data due Wednesday, New York's National Association of Purchasing Management survey for January is scheduled for release at 0900 EST/1400 GMT. The dollar firmed slightly against the yen at 114.39 bid. Brazil's currency was up against the dollar to 1.88 real. The U.S. Treasury 30-year bond was off 4/32 to yield 5.14 percent. The Standard & Poor's 500 March futures index was up 0.5 point at 1266. Tokyo's Nikkei index closed up 0.47 percent at 14,450.06. London's FTSE index was up 0.28 percent at 5902. The Wall Street Journal's "Heard on the Street" column said Hicks, Muse, Tate & Furst's fees in two big acquisitions by Chancellor Media Corp. were irking investors. The New York Times' "Market Place" column said Richard Lindsey, the head of market regulation at the Securities and Exchange Commission, was stepping down to join a unit of Bear Stearns Cos. Inc. that is under investigation by the state prosecutor for Manhattan and federal regulators. ((--Wall St desk (212) 859-1730, fax 859-1739)) Copyright 1999 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon. -------------------------------------------------------------------------------- %DPR %BUS %US %.N %.N/O CPQ .DJI .IXIC %TEL %ENT BEL .FTSE AMFM BSC V%REUTER P%RTR Click Here For More Information FRONT PAGE NEWS INDEX HEADLINES COLUMNS MARKET DATA GLOBAL MARKETS MARKET MONITOR CHARTING PORTFOLIOS MUTUAL FUNDS WEALTH CLUB STOCKCHAT TRADING CENTER FEEDBACK ADVERTISING INVESTOR'S PRIMER CBS MARKETWATCH RT CBS MARKETWATCH LIVE © 1998 MarketWatch.com, L.L.C. All rights reserved. Disclaimer. MarketWatch.com is a joint venture of CBS and Data Broadcasting Corporation. Company Information. CBS and the CBS "eye device" are registered trademarks of CBS Inc.