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Tech Industry

MIDDAY MARKETS: Yahoo! continues to party

    Techs were still cheering at midday Thursday after Yahoo got an extra lift from analysts following its positive earnings. The Nasdaq Composite Index rose 21.35 to 2,878.56 and the Dow Jones Industrial Average lost 11.71 to 10,576.63.

    The Inter@ctive Week @Net Index rose 11 to 357.58.

    In economic news, the number of Americans filing first-time claims for state unemployment benefits was 312,000 for the week ended Oct. 2, up from a revised 302,000 the week before. That figure exceeded forecasts.

    PlanetRx.com (Nasdaq: PLRX) made its public trading debut, blasting up 14 5/16 to 30 5/16, or 90 percent.

    Yahoo! (Nasdaq: YHOO) rose Thursday morning after analysts boosted its earnings euphoria with more bullish coverage. Shares were up 14 ? to 190. Amazon.com Inc. (Nasdaq: AMZN) rose 6 7/16 to 88 7/8. America Online Inc. (NYSE: AOL) gained 3 _ to 123 _ and Excite@Home (Nasdaq: ATHM) was up 3 3/8 to 49 15/16.

    Macromedia, Inc. (Nasdaq: MACR) launched a new eBusiness Infrastructure strategy Thursday by merging with Andromedia and signing partnerships with BroadVision and USWeb/CKS. Shares fell 2 3/32 to 52 7/8. USWeb/CKS (Nasdaq: USWB) fell ? to 31 1/16, and BroadVision, Inc. (Nasdaq: BVSN) gained 6 ? to 167 ?.

    Bell Atlantic Corp. (NYSE: BEL) down 1/8 to 66 9/16, said it will take a 19 percent stake in Metromedia Fiber Network Inc. (Nasdaq: MFNX ), up 2 ? to 33 ?, as part of a $2 billion deal that will give the giant U.S. local telephone operator access to a key nationwide fiber optic data network.Global Crossing Ltd. (Nasdaq: GBLX) was the most active gainer on the Nasdaq, rising 3 15/16 to 32 7/16. MCI WorldCom Inc. (Nasdaq: WCOM) rose 3 3/16 to 74 1/16 and Sprint Corp. (NYSE: FON) was up 1/8 to 64 1/8 in the wake of their $115 billion merger Tuesday.

    Dell Computer Corp. (Nasdaq: DELL) was also trading on high volume, up 7/8 to 44 3/16. Meanwhile, IBM Corp. (NYSE: IBM) sank 1 5/16 to 117 7/8 after Banc Boston Robertson Stephens analyst Dan Niles reportedly made some negative comments about its server business and software sales.

    Shares in Lionbridge Technologies Inc. (Nasdaq: LIOX) roared up 5 13/16 to 22 1/16, or 36 percent after US Bancorp Piper Jaffray raised its rating on to "strong buy" from "buy," with expectations the company will show solid third quarter results on Oct. 21.

    Advanced Micro Devices Inc. (NYSE: AMD) put on 1/16 to 19 ? after it reported a better-than-expected quarter.

    BMC Software Inc.'s (Nasdaq: BMCS) sank 5 9/16 to 64 7/16 after it warned Wednesday night that second quarter profits would not meet Wall Street expectations.