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MIDDAY MARKETS: Techs slip again

Techs were losing ground again at midday Monday, despite the previous session's surge, and the beginnings of earnings season. The Nasdaq dropped 48.24 to 4,398.21 and the Dow Jones industrial average climbed 154.81 to 11,266.29.

The Inter@ctive Week @Net Index fell 8 to 598.85.

After making the biggest one-day gain on better-than-expected jobs data Friday, techs were back in the doldrums Monday.

Among the day's gainers were Intel (Nasdaq: INTC), which was up 1 1/4 to 138 1/16, after it announced it will invest $6 billion to increase its chip production capacity to meet rising global demand. Cisco (Nasdaq: CSCO), which topped the charts on volume, was up 7/8 to 75 13/16.

Motorola (NYSE: MOT), slated to report earnings after the bell, was up 3/16 to 153 15/16.

Adtran (Nasdaq: ADTN) fell 3 9/16 to 64 5/16 after it topped expectations for the first quarter, reporting earnings of 42 cents a share.

ON Technology (Nasdaq: ONTC) fell 2 7/8 to 6 1/2 after it said that it expects to lose between 20 cents and 22 cents a share, well below First Call's break-even consensus.

After Safeguard Scientifics (NYSE: SFE) announced it would focus on Net infrastructure instead of business-to-business stocks, B2B companies moved lower. Safeguard spin-off Internet Captial Group (Nasdaq: ICGE) was down 5 7/16 to 67 1/4. Related issues also fell. Commerce One (Nasdaq: CMRC), down 8 1/2 to 131 1/2, and Ariba (Nasdaq: ARBA), down 5 7/8 to 97 5/8, lost ground. VerticalNet (Nasdaq: VERT), which sealed a deal with Microsoft Monday, was up 9/64 to 58 3/8.

Citrix (Nasdaq: CTXS) rose 5 5/32 to 82 25/32 after PaineWebber started coverage on the stock as a "buy" and set a price target of $115 a share.

Intuit (Nasdaq: INTU) tumbled 6 1/2 to 43 13/16, or 13 percent Monday after getting a downgrade.

Microsoft (Nasdaq: MSFT) dropped 2 1/8 to 86 15/16. Dell (Nasdaq: DELL) rose 1 1/4 to 56 7/16. Inc. (Nasdaq: AMZN) lost 7/16 to 67 1/8, Yahoo! (Nasdaq: YHOO) dropped 1/8 to 151 and America Online Inc. (NYSE: AOL) fell 5/8 to 66 15/16.