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Tech Industry

MARKET CLOSE: Dow, Nasdaq static ahead of holiday weekend

Investors got what they expected Friday, those few who bothered to actually trade. The Nasdaq composite closed up one-quarter of a point to 3,205.11 in light trading ahead of the holiday weekend.

The Dow Jones industrial average closed off 25 to 10,299.24, ending a week that saw heavy selling across the board.

With the exception of a furious late rally Wednesday, the week's trading primarily consisted of slow but steady selling of technology leaders.

"We need to see serious signs of slowing in the economy in order to get people to believe that (Fed Chairman Alan) Greenspan is not going to continue to tighten," said Roy Blumberg, money manager at Sheer Asset Management.

The Commerce Department reported demand for big ticket items had dropped in April, while an increase had been expected.

Although the durable goods number could suggest some slowing in the economy, analysts warned investors the data was very volatile.

Internet stocks were fairly mixed as Yahoo! Inc. (YHOO) closed off 2 15/16 to 112 1/16 while Amazon.com Inc. (AMZN) and eBay Inc. (EBAY) moved up 1 and 1 7/16 a share, respectively. America Online Inc. (AOL) trimmed 1/2 to 49.

GoTo.com (Nasdaq: GOTO) rallied up 2 to 17 1/8 after learning The Walt Disney Co. (NYSE: DIS), up 1/16 to 39 7/8, will pay it $21.5 million as part of a settlement in its trademark-infringement lawsuit.

Microsoft (Nasdaq: MSFT) fell 1/16 to 61 7/16 as investors awaited a decision on its anti-trust settlement; the software giant is now expected to be broken in two. Shares were trampled Thursday after reports the software giant could be divided in three.

Corel Corp. (Nasdaq: CORL) fell 25/32 to 3 1/16 after it announced it has secured a much-needed injection of cash: C$15 million, or about US $9.98 million.

Oracle Corp. (ORCL) moved up 9/16 to 67 and Sun Microsystems Inc. (SUNW) added 3/8 to 73 1/4.

S1 Corporation (Nasdaq: SONE) jumped 6 7/8, or 24 percent, to 35 3/165 after announcing a series of investment totaling $244 million. A Robertson Stephens analyst also talked up the stock.

Intel Corp. (INTC) rose 2 3/8 to 117 9/16 while Advanced Micro Devices Inc. (AMD) and IBM Corp. (IBM) gained 3 1/4 and 7/16 a share, respectively.

SDL (Nasdaq: SDLI) stormed up 29 3/4 to 197 3/4 after saying its second quarter results will be "well in excess'' of estimates, propelled by strong bookings and a recent acquisition.

Among widely held PC stocks, Dell Computer Corp. (DELL) trimmed 1 3/8 to 42 3/8; Apple Computer Inc. (AAPL) shed 7/8 to 86 3/8; Gateway Inc. (GTW) lost 1 1/16 to 46 13/16 and Compaq Computer Corp. (CPQ) fell 7/8 to 26 1/8.

Steven Miller, chief financial officer, for eMachines (Nasdaq: EEEE) has left the company, the firm announced Friday. Its shares closed off 1 to 5 1/16. >