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Tech Industry

MIDDAY MARKETS: Techs sluggish following Dell warning

    Techs were sluggish at midday Monday after a profit warning from Dell. The Nasdaq shed 12.73 to 2,757.65 and the Dow Jones industrial average was off 26.02 to 10,561.57.

    The Inter@ctive Week @Net Index fell 1 to 320.92.

    Dell Computer (Nasdaq: DELL) was off 0.59 to 25 at midday. The company issued a warning that fourth-quarter earnings would be as much as 8 cents a share lower than expected. Compaq (NYSE: CPQ) was down 0.63 to 19.87 and Gateway (NYSE: GTW) was off 1.21 to 22.48. Analysts remained relatively upbeat with many indicating that they expected the warning.

    Marchfirst (Nasdaq: MRCH) was up 48 percent Monday after a CS First Boston analyst reinstated coverage of the stock with a "buy" rating.

    InfoSpace (Nasdaq: INSP), down 0.97 to 7.94, said it has reappointed Naveen Jain as chief executive, effective immediately. The company also named a new chief operating officer and chief financial officer.

    Fairchild Semiconductor International (NYSE: FCS) up 0.38 to 17.87 said Monday it will buy Intersil Corp.'s (Nasdaq: ISIL), down 1.19 to 27.81, discrete power business for about $338 million in cash.

    BellSouth Corp. (NYSE: BLS), up 1.25 to 41.75 after it reported fourth quarter earnings of 59 cents a share Monday, on target with consensus estimates. The company said solid performance continued in its growth areas of data, wireless and international business, and reaffirmed growth projections for 2001.

    Shares of online retailer Drugstore.com (Nasdaq: DSCM) dropped 0.38 to 2.25 Monday after the company reported a smaller-than-expected fourth quarter loss.

    Cisco (Nasdaq: CSCO) gained 1.18 to 41.56, Intel (Nasdaq: INTC) was up 0.06 to 33.63, Oracle (Nasdaq: ORCL) fell 2.25 to 32.06 and Microsoft (Nasdaq: MSFT) lost 1.06 to 59.94.

    Amazon (Nasdaq: AMZN) fell 0.25 to 19.68, AOL (NYSE: AOL) rose 1.34 to 55.13 and Yahoo! (Nasdaq: YHOO) gained 1.06 to 34.87.