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Technology Stocks : Amazon.com, Inc. (AMZN) -- Ignore unavailable to you. Want to Upgrade?

To: H James Morris who wrote (54047)	4/29/1999 3:33:00 PM
From: Glenn D. Rudolph	Read Replies (1) \| Respond to of 164684

Nasdaq falls 2 pct as techs lose to cyclicals NEW YORK, April 28 (Reuters) - U.S. technology stocks fell sharply on Wednesday with the Nasdaq sliding two percent as investors moved money out of high technology stocks and into cyclical companies like aluminum, oil and chemical stocks. The Nasdaq Composite spent most of the day in negative terrain and dropped further in late trading, closing with a loss of 52.04 points at 2550.37, near its session low. But the Dow industrials, heavily weighted with "smokestack" companies, struck a new high. The Nasdaq is now 100 points from its all-time high of 2652, scored on Monday. "These Internet stocks trade violently and they trade as part of a herd mentality," said Peter Coolidge, a trader at Brean Murray & Co. Microsoft Corp. <MSFT.O> fell 1-7/8 to 82-1/8. Dell Computer Corp. <DELL.O> fell 1-9/16 to 41-5/8 and Intel Corp. <INTC.O> shed 1-1/16 to 61-3/16. Leading online retailer Amazon.com Inc. <AMZN.O> fell 12-3/8 in heavy trading to 193-1/2 on the Nasdaq ahead of its earnings report. After the bell, the company said it lost about $0.23 a share on a pro forma basis on revenues of $293.6 million. Traders said the stock fell further in after-hours trading, to 185-3/4.