MIDDAY MARKETS: IBM and AT&T forge ahead

Jan. 2, 2002 4:43 p.m. PT

2 min read

Techs inched ahead at midday Friday, as Intel and AT&T shrugged off bad news. The Nasdaq Composite Index gained 2.62 to 4073.21 and the Dow Jones Industrial Average rose 4.39 to 11,187.13.

The Inter@ctive Week @Net Index fell 4 to 540.79.

AT&T (NYSE: T) rose 1 1/4 to 31 1/2 despite its warning that it will see third-quarter profit five cents a share below estimates.

Intel (Nasdaq: INTC) rose 1/16 to 73 15/16, after announcing Monday that a technical glitch caused it to cease shipments of its Pentium III microprocessors and recalled those already on the market.

Motorola Inc. (NYSE: MOT), up 1/2 to 36, will buy Printrak International Inc. (Nasdaq: AFIS), in a deal worth around $160 million.

S3 Inc. (Nasdaq: SIII), up 1/8 to 11 3/4, has restructured an agreement to sell its graphics chip business to VIA Technologies to allay accounting concerns expressed by the Taiwanese government.

724 Solutions Inc (Nasdaq: SVNX) ran up 6 9/16 to 44 3/8, or 17 percent Tuesday after Bank of America said it would use the company's technology in its first wireless banking and brokerage offering in the United States.

National Information Consortium Inc. (Nasdaq: EGOV) shot up 23 percent, or 1 19/32 to 8 9/16 after it announced a three-year agreement with America Online, Inc. (NYSE: AOL) to deliver state government information, services and applications through AOL's Government Guide.

JDA Software Group Inc. (Nasdaq: JDAS) issued a press release Tuesday to say that it knows of no reason for the recent decline in its stock price, and that third quarter estimates are within reach. Shares rose 1 1/8 to 13 1/16.

LTX Corp. (Nasdaq: LTXX) gained 7/16 to 26 1/8 after announcing fourth quarter profits of 44 cents a share, well above First Call's consensus estimate of 28 cents a share.

Yahoo! (Nasdaq: YHOO) fell 5/8 to 121 7/16 and AOL (NYSE: AOL) fell 9/16 to 58 1/4.

Among other leading tech issues: Microsoft (Nasdaq: MSFT) rose 11/16 to 72, Cisco (Nasdaq: CSCO) gained 9/16 to 66 5/8 and Oracle (Nasdaq: ORCL) rose 1 3/4 to 88 1/2.