17 Gifts at All-Time Lows Gifts Under $30 ChatGPT, a Mindblowing AI Chatbot Neuralink Investigation Kirstie Alley Dies New Deadline for Real ID RSV Facts Space Tomatoes
Want CNET to notify you of price drops and the latest stories?
No, thank you

MIDDAY MARKETS: Nasdaq flirts with 3,800

The Nasdaq was in record territory again at midday Friday, approaching the 3,800 mark as a slew of solid quarterly reports kept techs rallying. The Nasdaq Composite Index rose 37.95 to 3,753.01, and the Dow Jones Industrial Average charged up 66.06 to 11,310.95.

The Inter@ctive Week @Net Index leapt 11 to 393.72.

A triple witching day may add extra volatility to techs Friday, as futures, options on indexes and options all expire at the same time.

On the IPO front, C-Bridge Internet Solutions Inc. (Nasdaq: CBIS) leapt 25 5/8 to 41 5/8 after it priced shares at $16 each, above their upwardly revised range. eGreetings Networks (Nasdaq: EGRT) rose 2 1/4 to 12 1/4 after 6 million shares priced at the top of an $8 to $10 range. OnDisplay Inc. (Nasdaq: ONDS) priced its IPO at $28 per share, but had yet to debut.

Microsoft (Nasdaq: MSFT) was up 1 7/16 to 115 1/8, helping keep the Nasdaq over the 3,700 point again on high volume.

Adobe Systems (Nasdaq: ADBE) flew up 5 5/8 to 69 3/8, or 9 percent after releasing fourth quarter earnings above analyst estimates.

Circuit City Stores, Inc. (NYSE: CC) fell 1/16 to 42 1/2 after it said it brought in third quarter earnings of 26 cents a share, in line with First Call's estimate.

Progress Software Corporation (Nasdaq: PRGS) jumped up 6 1/8 to 51 1/2 after it said net income for the fourth quarter was 60 cents a share, a nickel above First Call's expectation of 55 cents a share. The maker of application development and management software also announced a stock split.

Internet company America Online Inc. (NYSE: AOL) rose 3/8 to 86 1/2 after saying that membership to its flagship access service now exceeds 20 million members, having more than doubled in the last two years. Yahoo! (Nasdaq: YHOO) was even at 341 and Excite At Home rose (Nasdaq: ATHM) rose 1/8 to 49 1/8.

Of those that should have been enjoying the holiday rush, Amazon.com Inc. (Nasdaq: AMZN) lost 5/16 to 94 9/16, and Etoys (Nasdaq: ETYS) lost 11/16 to 39 1/4.

Dell Computer Corp. (Nasdaq: DELL) rose 7/32 to 45 5/32, Compaq Computer Corp. (NYSE: CPQ) shed 1/8 to 25 5/8 and IBM Corp. (NYSE: IBM) rose 1 7/16 to 110 5/8.

Cisco Systems Inc. (Nasdaq: CSCO) jumped 1 15/16 to 99 13/16 and Lucent Technologies (NYSE: LU) lost 5/8 to 78 1/16.

Intel Corp. (Nasdaq: INTC) rose 1 11/16 to 81 15/16. Philips Semiconductors (NYSE: PHG) and Avnet Inc. (NYSE: AVT), up 7/16 to 58 9/16 on Thursday entered a global distribution pact that would bring $1 billion in resale revenue through Avnet over the next three years.