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HolidayBuyer's Guide
Tech Industry

MARKET CLOSE: Techs lift Nasdaq to another record

Technology stocks plowed forward Friday, pushing the Nasdaq composite up 38 points to another record close of 3,753.11. The Dow Jones industrial average survived some late selling to close up 13 points to 11,257.43.

Triple witching, the simultaneous expiration of futures and options, eroded what would have been a record-setting day for the Dow, too.

"It is not a very exciting day for triple witching," said Trude Latimer, an independent stock market strategist based in Charlottesville, Va.

On the IPO front, C-Bridge Internet Solutions Inc. (Nasdaq: CBIS) closed up 24 1/16 to 40 1/16 after it priced shares at $16 each, above their upwardly revised range. eGreetings Networks (Nasdaq: EGRT) rose 9/16 to 10 9/16 after 6 million shares priced at the top of an $8 to $10 range. OnDisplay Inc. (Nasdaq: ONDS) moved up 49 to 77 in its debut.

Among widely held PC stocks, Dell Computer Corp. (DELL) rose 5/8 to 45 9/16; Compaq Computer Corp. (CPQ) fell 5/8 to 25 1/8; Gateway Inc. (GTW) moved up 1 5/8 to 73 5/8 and Apple Computer Inc. (AAPL) closed up 1 11/16 to 100.

Microsoft (Nasdaq: MSFT) picked up 1 9/16 to 115 1/4. Oracle Corp. (ORCL) nudged up 1 1/8 to 90 11/16 and Sun Microsystems Inc. (SUNW) closed up 3/16 to 75 1/8.

Adobe Systems (Nasdaq: ADBE) flew up 3 3/4 to 67 1/2 after announcing fourth quarter earnings above analyst estimates.

Progress Software Corporation (Nasdaq: PRGS) jumped up 8 1/2 to 53 7/8 after it said net income for the fourth quarter was 60 cents a share, a nickel above First Call's expectation of 55 cents a share. The maker of application development and management software also announced a stock split.

America Online Inc. (NYSE: AOL) fell 15/16 to 85 3/16 after saying that membership to its flagship access service now exceeds 20 million members, having more than doubled in the last two years. Yahoo! (Nasdaq: YHOO) finished up 9 to 250 and Amazon.com Inc. (AMZN) slid 13/16 to 94 1/16.

Intel Corp. (INTC) tacked on 1 13/16 to 82 1/16. Advanced Micro Devices Inc. (AMD) lost 11/16 to 28 13/16 and International Business Machines Corp. (IBM) dipped 9/16 to 108 5/8.

Cisco Systems Inc. (CSCO) charged up 1 13/16 to 99 11/16. Lucent Technologies Inc. (LU) rose 2 1/16 to 80 3/4 and 3Com Corp. (COMS) inched up 3/16 to 48 3/4.