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Tech Industry

Market Close: Wall Street bails out for the weekend

Technology stocks closed out the week on a sour note Friday as the Nasdaq composite fell 22 points to 2,520.64 while the Dow closed off 37 points to 10,829.28.

Investors are still digesting news that the Federal Reserve Board has adopted a tightening bias toward interest rates. With no big news or mergers to spring from, the market's momentum was dictated by individual issues and sectors.

IBM Corp. (IBM) closed off 2 1/2 to 230 3/8. Intel Corp. (INTC) lost 11/16 to 57 and Advanced Micro Devices Inc. (AMD) inched up 1/8 to 20 1/2.

PC stocks closed mostly lower as Dell Computer Corp. (DELL) fell 15/16 to 37 5/16 and Compaq Computer Corp. (CPQ) shed 3/8 to 25 1/8. Gateway Inc. (GTW) moved up 1/16 to 61 5/16 and Apple Computer Inc. (AAPL) gained 1 7/16 to finish at 43 15/16.

EToys Inc. (ETYS) tumbled 8 1/16 to 68 1/2 in its second trading day.

A trio of IPOs were hardly impressive in their first trading day. @Plan Inc. (APLN) inched up 2 to 16 and TenFold Corp. (TENF) rose 3 7/8 to 22 7/8. Fashionmall.com Inc. (FASH) was unchanged at 13.

Healtheon Corp. (HLTH) gained 4 3/8 to 105 after merging closed with the revenue-poor WebMD.

Priceline.com Inc. (PCLN) moved up 4 9/16 to 138 15/16 after Donaldson Lufkin & Jenrette began coverage with a "buy" rating. USWeb Corp. (USWB) gained 2 to 28 1/2 after Dain Rauscher boosted its opinion to "strong buy" from "buy."

Microsoft Corp. (MSFT) fell 7/8 to 77 9/16 and Oracle Corp. (ORCL) rose 7/16 to 25 3/4. Sun Microsystems Inc. (SUNW) lost 1 3/4 to 60 3/16.

Among widely held Internet stocks, Yahoo! Inc. (YHOO) slid 3/16 to 151 5/16; America Online Inc. (AOL) dropped 3 1/4 to 126 1/4 and Amazon.com Inc. (AMZN) closed off 2 1/4 to 128 9/16.