Midday Markets: Techs bounce back

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Techs continued their recovery at midday on Monday. The Nasdaq climbed 24 to 2,502 and the @Net added 4 to 294. The Dow Jones industrial average rose 72 to 10,872.

The Dow gained after AlliedSignal Inc., which makes up 2.92 percent of the index, bought Honeywell Inc. Allied's 4-point rise added about 20 points to the Dow. The Standard & Poor's 500 index rose 2 to 1,329 and the Russell 2000 index, which concentrates on small cap stocks, added 1 to 443.

CMGi Inc. (Nasdaq: CMGI) climbed 7 15/16 to 102 3/16 after Dell Computer Corp. (Nasdaq: DELL) and Microsoft Corp. (Nasdaq: MSFT) invested in CMGI-backed Web hosting unit called NaviSite.

Copper Mountain Networks Inc. (Nasdaq: CMTN) slid 2 1/8 to 62 1/4 after Morgan Stanley Dean Witter started coverage at "neutral."

Baby stuff brings the big bucks, that's the hope, anyway. eToys Inc. (Nasdaq: ETYS) added 4 1/16 to 53 after it began selling children's apparel and other items at its online Baby Store. iVillage Inc. (Nasdaq: IVIL), rising 4 7/8 to 43, also benefited from beginning the sale of maternity goods.

Hauppage Digital Inc. (Nasdaq: HAUP) rose 5 3/16 to 23 1/8 after the streaming media company added Wave System Inc.'s (Nasdaq: WAVX) e-commerce transaction software to its technology. Wave Systems gained 1 9/16 to 19 1/4.

High Speed Access Corp. (Nasdaq: HSAC) rose 5 3/8 to 25 3/4 in its second day trading after going public on Friday.

Interlinq Software Corp. (Nasdaq: INLQ) lost 7/8 to 6 7/8 after the financial services software company terminated its agreement to join with Terlin Inc. Interlinq will pay W.R. Hambrecht, to which Terlin is affiliated, an undisclosed sum.

International Business Machines Corp. (NYSE: IBM) rose 3 to 119 after forming a seven-year $8 billion partnership with Acer Group. Dell added 1 7/16 to 25 5/16 and Gateway Inc. (NYSE: GTW) climbed 1 7/8 to 64.

Motorola Inc. (NYSE: MOT) dipped 2 1/8 to 85 3/4 after jointly buying a wireless company with Cisco Systems Inc. (Nasdaq: CSCO). Cisco added 1/8 to 115.

Netegrity Inc. (Nasdaq: NETE) rose 2 to 13 7/8 after ING Barings began coverage at "strong buy."

Synopsis Inc. (Nasdaq: SNPS) added 1 7/8 to 45 1/2 after the company announced plans to buy back as much as $200 million of its common stock.

Viagraphix Corp. (Nasdaq: VIAX) climbed 1 11/32 to 8 11/32 after 7thStreet.com Inc. (Nasdaq: SEVL) agreed to buy the educational software company for $53.5 million in stock. 7thStreet rose 11/32 to 5 11/32.

Intel Corp. (Nasdaq: INTC) edged up 1/4 to 53 7/16 and Advanced Micro Devices Inc. (NYSE: AMD) rose 1/16 to 18.

Among software makers, Microsoft added 9/16 to 80 1/8 and Computer Associates International Inc. (NYSE: CA) rose 3/4 to 50 11/16.