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Tech Industry

MARKET CLOSE: Dow, Nasdaq make decent gains

    Technology stocks made strong gains Thursday, pushing the Nasdaq composite up 98 points to 4,267.57. The Dow Jones industrial average closed up 80 points to 11,114.27.

    "We're just running out of gas, and with the uncertainty ahead of tomorrow's numbers, I think people are just evening out their blotters and taking home some profits," said Bryan Piskorowski, market analyst at Prudential Securities.

    Yahoo! (Nasdaq: YHOO) tumbled 11 9/16 to 154 one day after topping Street estimates by a penny a share in its first quarter.

    America Online Inc. (AOL) moved up 2 1/8 to 65 1/8 while eBay Inc. (EBAY) and Amazon.com Inc. (AMZN) rose 16 1/16 and 2 1/16 a share, respectively. Lycos Inc. (LCOS) closed off 3 5/16 to 59 11/16.

    Internet commerce research firm Jupiter Communications (Nasdaq: JPTR) picked up 10 9/16 to 32 13/16 after it said it expects first quarter revenue will be $16.5 million, up 175 percent from the year-ago period.

    Intel Corp. (INTC) shaved off 1/16 to 129 13/16. Advanced Micro Devices Inc. (AMD) moved up another 2 7/8 to 71 1/4 and IBM Corp. (IBM) slid 1 7/8 to 123 1/8.

    UK-based auction house QXL.com (Nasdaq: QXLC) was the surprise of the day. Its shares soared up 29 5/8, or 133 percent, to 51 31/32 after SG Cowen gave the company a "strong buy" rating, and slapped a two-year, $333 price target on the stock.

    ATI Technologies (Nasdaq: ATYT), a maker of graphics accelerator chips, which incorporate 3D and multimedia, rose 2 7/16 to 18 1/8 after it said earnings topped expected profits of 20 cents a share.

    Dell Computer Corp. (DELL) lost 2 11/32 to 51 9/16. Compaq Computer Corp. (CPQ) gained 1 7/16 to 29 5/16 while Gateway Inc. (GTW) and Apple Computer Inc. (AAPL) fell 1 1/16 and 5 3/16 a share, respectively.

    Tellabs (Nasdaq: TLAB) fell 2 1/2 to 58 1/2 after the company warned it expects first quarter earnings miss estimates.

    In IPO news, i3 Mobile (Nasdaq: IIIM) rose 9, or 56 percent, to 25 in its debut.

    Microsoft Corp. (MSFT) trimmed 3/8 to 86. Oracle Corp. (ORCL) pushed up 3 15/16 to 82 3/16 and Sun Microsystems Inc. (SUNW) closed up 3 15/16 to 92 11/16.

    Among widely held networking stocks, Cisco Systems Inc. (CSCO) dropped 5/16 to 71 13/16; 3Com Corp. (COMS) lost 2 1/16 to 44 9/16 and Lucent Technologies Inc. (LU) shaved off 1/4 to 62 3/16.