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Market Close: Internets give tech stocks life

Technology stocks took center stage Monday as leading Internet stocks helped push the Nasdaq composite up 67 points to 2,630.28 while the Dow Jones industrial average fell 40 points to 10,815.98.

While trading was unusually light, the upturn in Internet stocks might be a sign the sector is ready to break out of its two-month slump.

"Right now, the Dow is suffering from the weakness in energy shares," said Gregory Nie, technical analyst at EVEREN Securities Inc. "But for now the most important technical angle is the very, very light volume, which suggests we're still in a kind of 'time-out' for the market."

Yahoo! Inc. (YHOO) enjoyed another strong day, shooting up 14 7/16 to 158 7/8 on news that it will team up with stock tracker Instinet to offer electronic trading services. ExciteAtHome Inc. (ATHM) pushed up 5 7/16 to 57 7/8 and Inc. (AMZN) rose 12 3/16 to 123 1/2.

America Online Inc. (AOL) closed up 3 3/8 to 115 3/8 after it reported it may offer free Internet access in Britain. Infoseek Corp. (SEEK) closed up 5/16 to 49 1/8 and Lycos Inc. (LCOS) rallied up 8 7/8 to 96 5/8.

Dell Computer Corp. (DELL) moved up 2 15/64 to 38 15/16. Compaq Computer Inc. (CPQ) added 3/8 to 22 1/8 and Gateway Inc. (GTW) tacked on 3/8 to 65 7/16. Apple Computer Inc. (AAPL) fell 5/8 to 46 1/2.

Among widely held networking stocks, Cisco Systems Inc. (CSCO) jumped up 3 3/4 to 123 1/8; Ascend Communications Inc. (ASND) gained 4 to 107 5/8; Lucent Technologies Inc. (LU) rose 2 7/16 to 65 3/8 and 3Com Corp. (COMS) closed up 2 5/16 to 30 15/16.

Brooktrout Inc. (BRKT) hustled up 1 1/2 to 16 5/16 on news its Interspeed unit had filed for an IPO. Phoenix Technologies Ltd. (PTEC) moved up 4 3/8 to 16 1/16 on news of a partnership with Softbank holdings and the launch of ebetween, which will allow Internet companies to use its software.

Intel Corp. (INTC) bounced back from Friday's slide to gain 1 7/8 to 56 13/16. Advanced Micro Devices Inc. (AMD) inched up 3/8 to 19 1/8 and IBM Corp. (IBM) rose 4 to 124 3/4. Texas Instruments (TXN) closed up 3 3/4 to 136 1/2 following the company's announcement of plans to buy Israeli chipmaker Libit Signal Processing for $329 million.

Microsoft Corp. (MSFT) shot up 3 15/16 to 88 15/16 and Sun Microsystems Inc. (SUNW) added 4 1/2 to 68 9/16. Oracle Corp. (ORCL) ended off 15/16 to 34 1/8.