Technology stocks snapped back in the first half of Friday's trading, as analysts stepped in for some damage control after Gateway's crash. The Nasdaq Composite Index rose 98.53 to 2,696.46 and the Dow Jones Industrial Average was up 38.30 to 10,452.79.
The Inter@ctive Week @Net Index rose 4 to 332.45.
A day after computer stocks took a beating, Compaq (NYSE: CPQ) shares rebounded 2.12 to 23.62 on news that it will repurchase up to $1 billion of its common shares. Gateway (NYSE: GTW) was up 1.2 to 20.2.
Jabil Circuit (NYSE: JBL) jumped 4 to 35.25 as analysts said the outlook for equipment manufacturers wasn't as dire as yesterday's drops assumed
Webb Interactive Services, Inc. (Nasdaq: WEBB) CEO Perry Evans boosted his company's stock ), up 0.69 to 2.68 Friday by announcing he would repurchase shares.
Broadvision (Nasdaq: BVSN) dropped 2.65 to 20 after a downgrade, citing a possible lack of customer traction as the company transitions to a new product.
In an effort to stop the bleeding among chip stocks, Atmel Corp. (Nasdaq ATML), up 1.28 to 10.94, said it would meet the fourth-quarter numbers provided during its most recent quarterly conference call. Shares of the chip maker rose
Cisco (Nasdaq: CSCO), up 2.31 to 50.18, Intel (Nasdaq: INTC) fell 2 to 36.06, and Oracle (Nasdaq: ORCL) rose 0.12 to 26.62. Microsoft (Nasdaq: MSFT) gained 0.69 to 58.06.
Amazon (Nasdaq: AMZN) rose 1.06 to 25.75, AOL (NYSE: AOL) gained 1.11 to 41.72 and Yahoo! (Nasdaq: YHOO) lost 2.75 to 36.87.