Tech Industry

MIDDAY MARKETS: Techs edge up

The Nasdaq inched up at midday Thursday, as another round of quarterly reports hit the market. The Nasdaq rose 8.99 to 3,238.56 and the Dow Jones industrial average was up 2.22 to 10,328.70.

The Inter@ctive Week @Net Index fell 16 to 412.87.

WorldCom Inc. (Nasdaq: WCOM), down 1.94 to 23.31, matched Wall Street expectations for the third quarter and said it will announce a restructuring and new strategy early next month.

Virata Corp. (Nasdaq: VRTA) crumbled 14.94 to 17.94 after reporting booming revenues, a net loss of 1.56 a share after hefty one-time charges, and a profit of 13 cents a share on a diluted basis in its second quarter.

GoTo.com Inc. (Nasdaq: GOTO) dropped 0.88 to 42.06, after it said it is buying privately-held Internet service company SearchUP Inc. and searching for a new corporate identity.

Digex Inc. (Nasdaq: DIGX), down 4.93 to 42.06, reported that itexceeded guidance across revenue, EBITDA and earnings Thursday. Nextel (Nasdaq: NXTL) also beat estimates, but fell 7.63 to 28.5.

o2wireless Solutions, Inc. (Nasdaq: OTWO) slipped 3.88 to 11 Thursday after announcing third quarter profit of 6 cents a share, or a net loss of 56 cents a share after one-time items. First Call was predicting a profit of 4 cents a share.

Rare Medium Group Inc. (Nasdaq: RRRR) shares surged 0.53 to 4.91 on the news that the company beat analyst estimates for the third quarter on strong Internet services revenue.

TheStreet.com (Nasdaq: TSCM), unchanged at 3.25, posted a narrower-than-expected loss for the third quarter, beating Wall Street expectations by three cents.

Barnes & Noble Inc. (NYSE: BKS), unchanged at 16.94, unveiled a plan Thursday to more tightly integrate its online division with its chain of 551 retail stores.

Amazon (Nasdaq: AMZN) rose 1.69 to 33.56, AOL (NYSE: AOL) lost 0.7 to 46.32 and Yahoo! (Nasdaq: YHOO) fell 0.31 to 55.25.

Among other leading tech issues: Cisco (Nasdaq: CSCO) gained 1.18 to 51.81, Intel (Nasdaq: INTC) rose 1.5 to 42.81, Microsoft (Nasdaq: MSFT) was up 1.25 to 62.5 and Oracle (Nasdaq: ORCL) shed 0.81 to 33.56.