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Tech Industry

MARKET CLOSE: &#039Net stocks lift Nasdaq to record close

    Internet stocks staged a brisk rally Friday, lifting the Nasdaq composite 35 points to an all-time high of 2,886.96. The Dow spent most of the day in the black before some late selling pushed it down 51 points to a close of 11,028.43.

    Investors received some positive news from the Producer Price Index figures Friday morning.

    The core PPI rate, which excludes food and energy prices, declined 0.1 percent in August after being unchanged in July. Estimates had called for an increase. The jump in wholesale prices and muted gains elsewhere left the Federal Reserve, and all investors trying to scrutinizing what's on its interest rate agenda, on guard for more economic data.

    Shares of AppNet Systems Inc. (APNT) and Viant Corp. (Nasdaq: VIAN) soared Friday after CS First Boston upgraded both e-commerce consultants to "strong buy" from "buy." AppNet closed up 17 1/2 to 33 while Viant tacked on 10 1/2 to 50.

    Amplidyne Inc. (AMPD) moved up 2 1/8 to 12 1/4, continuing its recent hot streak.

    Yahoo! Inc. (YHOO) closed up 7 13/16 to 170 1/2 Friday while Amazon.com Inc. (AMZN) and Lycos Inc. (LCOS) added 2 7/8 and 11/16 a share, respectively. America Online Inc. (AOL) inched up 3/16 to 96 7/16 and Infoseek Corp. (SEEK) moved up 1/2 to 31 1/4.

    eBay Inc. (EBAY) rocketed up 13 9/16 to finish at 158.

    Among widely held PC stocks, Dell Computer Corp. (DELL) picked up 11/16 to 49 9/16; Compaq Computer Corp. (CPQ) rose 2 3/16 to 25 1/8; Apple Computer Inc. (AAPL) gained 1 7/8 to 77 7/16 and Gateway Inc. (GTW) closed up 2 1/4 to 50 3/4.

    Intel Corp. (INTC) trimmed 3/8 to 87 3/8 and Advanced Micro Devices Inc. (AMD) shaved off 9/16 to 21 11/16. International Business Machines Corp. (IBM) tacked on 1/8 to 134 7/8.

    Microsoft Corp. (MSFT) scampered up 15/16 to 95 and Oracle Corp. (ORCL) shot up 2 5/16 to 46 3/8.

    Cisco Systems Inc. (CSCO) added 13/16 to 70 3/4. Lucent Technologies Inc. (LU) rose 3 to 67 7/16 and 3Com Corp. (COMS) closed off 11/16 to 27 1/4.