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

To: QuentR who wrote (58024)	4/15/1999 11:16:00 AM
From: rupert1	Read Replies (1) \| Respond to of 97611

Stocks Trade Mixed; Techs Extend Slump As Blue Chips Rise By AARON ELSTEIN INTERACTIVE JOURNAL Stocks were mixed in early trading Thursday as investors continued to shun the technology sector in favor of a handful of blue-chips shares. Bonds fell and the dollar rose. The Dow Jones Industrial Average, one of the few major market indexes to rise Wednesday, extended its gains in the first half-hour of trading Thursday. The blue-chip average was up 57 points to 10469. Shares of Dow component Boeing provided some fuel for the advance, rising 2 3/16 to 40 3/16 after the company reported stronger-than-expected earnings. But auto giant General Motors, another component stock, fell 3/4 to 89, as investors moved to lock in gains after the company reported earnings that beat analysts' estimates handily. The broader market continued to weaken after sliding Wednesday. The Standard & Poor's 500-index fell 1 to 1327.40 and the New York Stock Exchange Composite Index rose 0.50 to 626.10. An early rally in the tech-heavy Nasdaq Composite Index quickly fizzled, showing a loss of 1.60 to 2505.70 after the first half-hour of trading. Transportation stocks, among Wednesday's best performers, continued to fare well Thursday, with the Dow Jones Transportation Index rising 2%, or 69 points, to 3512.40. So-called cyclical stocks -- shares of companies whose performance closely track the overall economy -- also outperformed after two days of strong gains. A Morgan Stanley cyclical index jumped 10.30 to 564.10. Shares of Ameritrade Holdings fell 18 to 130 after the online brokerage posted second-quarter earnings of 14 cents a share -- double analysts' expectations -- as both customers and trades increased beyond all estimates. In the year-ago period, Ameritrade posted break-even results. And shares of Apple Computer dipped 1/32 to 35 1/2 even though the company's earnings soared past analysts' profit projections in its fiscal second quarter, as accelerating sales of its iMac and Power Macintosh computers continued to fuel renewed optimism about the company's prospects. The Cupertino, Calif., computer maker said net income more than doubled to 84 cents a share, from 38 cents a share, in the year-earlier quarter. Excluding a one-time gain and loss during the current quarter, the company would have earned 60 cents a share, three cents more than analysts' expected. In major market action: Stocks were mixed. Volume reached 136 million shares on the New York Stock Exchange, where 1,732 stocks advanced and 1,277 stocks declined. Bonds slipped. The Treasury's benchmark long bond fell nearly 3/8 point, or $3.75 per $1,000 bond. Its yield, which moves in the opposite direction from price, stood at 5.53%. The dollar strengthened. It was quoted at 118.80 yen and $1.0762 to the euro, compared with 118.63 yen and $1.0805 late Wednesday in New York.