Tech Industry

MIDDAY MARKETS: Techs rebound

Technology standbys Cisco, Intel and Oracle helped bulk the Nasdaq up again at midday Wednesday. The Nasdaq Composite Index rebounded 11.81 to 2,746.79 and the Dow Jones Industrial Average was up 97.26 to 10,604.84.

The Inter@ctive Week @Net Index rose 4 to 332.45.

Cisco (Nasdaq: CSCO), up 1.5 to 52.5, Intel (Nasdaq: INTC), up 0.22 to 42.25 and Oracle (Nasdaq: ORCL), up 0.66 to 23.31 were the most actively traded stocks, leading the Nasdaq into positive territory.

Citing a weaker-than-expected kick-off to the holiday retail season, Merrill Lynch cut its fourth quarter sales target for Gateway (NYSE: GTW) Wednesday. Shares were down 2.3 to 28.7.

Investors shaved 60 percent off ChipPAC, Inc. (Nasdaq: CHPC), down 4.81 to 2.56 following news its fourth quarter results would miss estimates.

ONI Systems (Nasdaq: ONIS), down 0.75 to 50.25, and Progress Telecom said Wednesday they have reached an optical networking deal, worth at least $15 million.

PurchasePro (Nasdaq: PPRO), up 0.78 to 14.65, got a industry_list.asp?mode=news&doc_id=ZE506661&pic=Y"boost out of news it has hired a new Chief Operating Officer. Bullish statements from Lehman Brothers helped drive the news home.

ACTV, Inc. (Nasdaq: IATV), up 0.09 to 7.53, said that Microsoft will integrate its patented, software-based technologies, products and services with the Microsoft TV platform. Chyron Corp. (NYSE: CHY), up 0.5 to 2.31,also announced a deal with the software giant's TV business. Microsoft (Nasdaq: MSFT) fell 0.25 to 66.75.

Amazon (Nasdaq: AMZN) rose 0.09 to 25.13, America Online (NYSE: AOL) gained 1.33 to 41.89 and Yahoo! (Nasdaq: YHOO) gained 0.09 to 37.06.