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Tech Industry

MIDDAY MARKETS: Techs give up gains

Techs gave way to selling again at midday Wednesday, after earnings helped hoist them out of the red briefly in earlier trading. The Nasdaq slipped 21.03 to 3,143.52 and the Dow Jones industrial average climbed 42.15 to 10,464.42.

The Inter@ctive Week @Net Index fell 7 to 394.33.

Intuit (Nasdaq: INTU) was up 5 15/16 to 33, or 21 percent, Wednesday after it topped estimates in its third quarter report.

After beating analysts' expectations in an upbeat third quarter report, VA Linux (Nasdaq: LNUX) rose 2 7/64 to 40 39/64, or 5 percent Wednesday. RedHat (Nasdaq: RHAT) was down 5/8 to 16 1/8 and Corel (Nasdaq: CORL) fell 9/32 to 3 13/32.

Centillium Communications (Nasdaq: CTLM) priced shares of its IPO at $19, the middle of its revised range of $18 to $20 a share.

ATI Technologies (Nasdaq: ATYT), down 7 to 9 3/4, warned Wednesday it expects to report a third quarter loss of 6 to 7 cents a share amid sluggish sales.

Internet Capital Group (Nasdaq: ICGE), even at 27 1/16, and IBM (NYSE: IBM), down 9/16 to 106 13/16, said Wednesday they are forming a new company to create an online marketplace.

Microsoft (Nasdaq: MSFT) rose 1 11/16 to 64 7/8 as it headed into another round of the anti-trust trial.

Three eBrokerage leaders: Knight Trading Group (NASDAQ: NITE), down 1/8 to 25 15/16, E*Trade (NASDAQ: EGRP), down 2 3/16 to 13 9/16 and AmeriTrade (NASDAQ: AMTD), down 37/64 to 11 3/16 were suffering after Robertson Stephens Senior eFinance Analyst Scott Appleby today lowered his estimates on the eBrokerage industry. He cited declining trading volumes in the June quarter.

Among other leading tech issues: Dell (Nasdaq: DELL) lost 7/32 to 43 23/32, Intel (Nasdaq: INTC) was up 3 3/16 to 113 1/16, Cisco (Nasdaq: CSCO) rose 1 35/64 to 52 3/32, Sun Microsystems (Nasdaq: SUNW) gained 1/2 to 72 3/8 and Oracle (Nasdaq: ORCL) was down 5/8 to 62. Inc. (Nasdaq: AMZN) lost 2 33/64 to 44 11/64, Yahoo! (Nasdaq: YHOO) fell 1/4 to 118 1/16 and America Online Inc. (NYSE: AOL) was even at 49 1/2.