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Tech Industry

MIDDAY MARKETS: Techs inch up on light volume

Techs eked out gains at midday Friday, and trading was light as investors took off for the long weekend. The Nasdaq inched up 13.11 to 3,218.46 and the Dow Jones industrial average climbed 46.94 to 10,370.86.

The Inter@ctive Week @Net Index fell 2 to 398.02.

Microsoft (Nasdaq: MSFT) revived 3/8 to 61 7/8 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.

Upstart competitor,Canadian software developer Corel Corp. (Nasdaq: CORL), down 15/32 to 3 3/8, announced it has secured a much-needed injection of cash: C$15 million, or about US $9.98 million.

Another company rising on news of a cash infusion was S1 Corporation (Nasdaq: SONE), which jumped 21 percent after announcing a series of investment totaling $244 million. A Robertson Stephens analyst also talked up the stock. Shares were up 6 5/16 to 34 5/8.

AT&T (NYSE: T) rose 3/4 to 34 11/16 after news the Justice Department approved its acquisition of cable giant Media One.

SDL (Nasdaq: SDLI) rose 10 1/8 to 178 1/8 after it said Friday second quarter results will be "well in excess'' of estimates, propelled by strong bookings and a recent acquisition.

GoTo.com (Nasdaq: GOTO) was up 2 1/4 to 17 3/8; the stock cruised ahead as much as 20 percent Friday on news The Walt Disney Co. (NYSE: DIS), up 5/16 to 40 1/8, will pay it $21.5 million as part of a settlement in its trademark-infringement lawsuit.

Steven Miller, chief financial officer, for eMachines (Nasdaq: EEEE) has left the company, the firm announced Friday. Shares were down 5/8 to 5 7/16.

Among other leading tech issues: Dell (Nasdaq: DELL) lost 1 5/16 to 42 7/16, Intel (Nasdaq: INTC) was up 1 1/4 to 116 7/16, Cisco (Nasdaq: CSCO) gained 1/2 to 55, Sun Microsystems (Nasdaq: SUNW) rose 1/8 to 73 and Oracle (Nasdaq: ORCL) was up 1/2 to 66 15/16.

Amazon.com Inc. (Nasdaq: AMZN) rose 9/16 to 46 1/16, Yahoo! (Nasdaq: YHOO) dropped 1 5/8 to 113 3/8 and America Online Inc. (NYSE: AOL) was holding steady at 49 1/2.