Galaxy Z Flip 4 Preorder Quest 2: Still the Best Student Internet Discounts Best 55-Inch TV Galaxy Z Fold 4 Preorder Nintendo Switch OLED Review Foldable iPhone? 41% Off 43-Inch Amazon Fire TV
Want CNET to notify you of price drops and the latest stories?
No, thank you

MARKET CLOSE: Techs rebound

Technology stocks made sharp gains Tuesday as the Nasdaq composite moved up 229 points to 3,711.26. The Dow Jones industrial average shot up 219 points to close at 11,124.82.

After Monday's Microsoft-inspired sell-off, investors picked through the scraps for some value investments.

"This is classic for how this new market is behaving," said Chris Dickerson, analyst at Global Market Strategists Inc. "You are going to see buyers of the tech stocks at the expense of the Dow stocks."

Microsoft Corp. (MSFT) shares moved up 2 3/4 to 69 3/8. Oracle Corp. (ORCL) added 3 5/16 to 75 3/4 and Sun Microsystems Inc. (SUNW) closed up 6 1/8 to 93 3/4.

Among widely held PC stocks, Dell Computer Corp. (DELL) rose 3 3/8 to 51 1/8; Compaq Computer Corp. (CPQ) picked up 3 9/16 to 29 13/16; Apple Computer Inc. (AAPL) tacked on 7 13/16 to 128 5/16 and Gateway Inc. (GTW) closed up 3 15/16 to 57.

SBC Communications (NYSE: SBC) closed up 2 7/8 to 45 1/8 after it beat estimates for its first quarter Tuesday, citing strong growth in its wireless, data and international operations for better-than-expected results.

Nextlink Communications (Nasdaq: NXLK) moved up 4 11/32 to 72 11/32 after it scraped by estimates Tuesday with a first quarter loss of $1.59 a share.

Juno Online (Nasdaq: JWEB) inched up 3/16 to 11 1/4 after it reported a net loss of $1.28 a share as the company spent heavily to acquire subscribers. (Nasdaq: MKTW) lost 9/16 to 15 15/16 after it posted a smaller-than-expected first quarter loss.

E-Loan, Inc. (Nasdaq: EELN) flew up 5 9/32 to 9 11/32 after the company announced an infusion of $40 million and a bullish rating.

Yahoo! Inc. (YHOO) shot up 10 5/8 to 124 1/2. America Online Inc. (AOL) gained 2 13/16 to 60 13/16 while Inc. (AMZN) and eBay Inc. (EBAY) closed up 2 5/8 and 11 11/16 a share, respectively.

Intel Corp. (INTC) marched up 8 7/8 to 125 and Advanced Micro Devices Inc. (AMD) closed up 5 13/16 to 86 13/16.>