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Tech Industry

MIDDAY MARKETS: Earnings inspire rebound

Techs bounced back at midday Friday, as the markets digested a mixed batch of earnings reports. The Nasdaq rose 3,181.01 to 106.33 and the Dow Jones industrial average gained 130.23 to 10,164.81.

The Inter@ctive Week @Net Index rose 14 528.41.

DoubleClick Inc. (Nasdaq: DCLK), down 5.56 to 12.56, plunged Friday as the company's third-quarter earnings news sunk in. Although the company announced its first profitable quarter, growth is expected to slow and visibility is dim for the next few quarters.

Shares of MyPoints (Nasdaq: MYPT), down 2.84 to 2.03, plunged 58 percent in morning trading, a day after the company reported what one analyst called a "shocking" third quarter shortfall.

Gateway (NYSE: GTW) rose 16 percent, or 7.03 to 50.66 after reporting a strong third quarter. While most analysts were impressed, U.S. Bancorp Piper Jaffray's Ashok Kumar lowered his price target. Competitor Dell (Nasdaq: DELL) was up 1.5 to 24.68 and Compaq (NYSE: CPQ) was up 2.16 to 24.69.

Veritas (Nasdaq: VRTS) bolted up 10 percent, or 12.25 to 133.89 after the company reported a solid third quarter, and an analyst upped estimates for the storage management software company.

Juniper (Nasdaq: JNPR) rose 9.31 to 208.91 after beating estimates.

Soros Private Equity Partners will invest $15 million in online retailer Bluefly Inc. (Nasdaq: BFLY), up 0.25 to 3, effectively taking over the firm, the company said Friday.

Juno Online Services Inc. (Nasdaq: JWEB), up 2.7 to 2.38, said it has secured equity financing that could provide it with $125 million over 2 years.

Amazon (Nasdaq: AMZN) rose 1.56 to 26.69, AOL (NYSE: AOL) rose 1.25 to 52.25 and Yahoo! (Nasdaq: YHOO) lost 0.75 to 55.88.

Among other leading tech issues: Cisco (Nasdaq: CSCO)rose 2.81 to 52.63, Intel (Nasdaq: INTC) rose 2.88 to 40, Microsoft (Nasdaq: MSFT) fell 0.63 to 53.75, and Oracle (Nasdaq: ORCL) rose 1.75 to 33.25.