MARKET CLOSE: Techs end week with some momentum

2 min read

Technology stocks moved higher again Friday on the heels of some strong quarterly earnings reports. The Nasdaq composite gained 64 points to 3,482.63 while the Dow picked up 83 points to close at 10,226.22.

"When the Nasdaq rallies like yesterday you have a little backing and filling and then in come the momentum players," said Larry Rice, chief investment officer at Josephthal Lyon & Ross.

Intel (INTC) moved up $1.06 to $43. Advanced Micro Devices (AMD) added 31 cents a share and IBM (IBM) closed off $1.69 to $94.75.

Ericsson (Nasdaq: ERICY) lost $2.31 to $11.69 after it blamed a wider-than-expected loss on its handsets business and issued a weak outlook. Nokia (NYSE: NOK) rose $1.06 to $39.19 and Motorola (NYSE: MOT) closed up 38 cents to $23.38.

Compaq Computer Corp. (NYSE: CPQ) picked up 93 cents to $38.63 after it attempted to set investors at ease Friday by announcing it is comfortable with inventory levels.

Dell (DELL) shaved off 38 cents to $28.44 while Apple Computer (AAPL) and Gateway (GTW) tacked on 56 cents and $1.98 a share, respectively.

Commerce One (Nasdaq: CMRC) shot up $6.13 to $70 after analysts gave it a round of upgrades Friday, bolstering its momentum after a strong third quarter report.

Microsoft (MSFT) gained $3.31 to $65.19 and Oracle (ORCL) lost $1.13 to $35.25. Sun Microsystems (SUNW) added $1 to $118.69.

Mercator Software (Nasdaq: MCTR) fell $7.66 to $4.59 after the company reported a $4 million, or 14 cent per share, loss for the third quarter.

Yahoo! (YHOO) slid 56 cents to $59. America Online (AOL) moved up $1.13 to $46.57 while Amazon.com (AMZN) and eBay (EBAY) finished up $3.06 and 88 cents a share, respectively. Lycos (LCOS) closed up $1 to $44.25.

Shares of E.piphany Inc. (Nasdaq: EPNY) gained $25.13 to $89.88 after it reported a narrower-than-expected third quarter loss and declaring a 3-for-2 stock split.