TECH STOCKS: Cisco, Intel Help Lead Broad Tech-sector Rise
By Rex Crum
Technology stocks rose in early trading Monday, led by sector leaders such
as Cisco Systems Inc., Apple Inc. and Oracle Corp. and upbeat reaction to the
latest national retail sales figures.
The tech-heavy Nasdaq Composite Index (RIXF) rose more than 27 points to 2,
195, while the Philadelphia Semiconductor Index (SOX) climbed almost 2%. The
Morgan Stanley High Tech 35 Index (MSH) rose 1.2%.
Among tech stocks, Cisco (CSCO) shares rose 24 cents to $26.32. Before the
market opened, Cisco said it raised its bid for Norwegian videoconferencing
equipment company Tandberg ASA. Cisco's new offer comes to $3.4 billion, up from
$3 billion.
Cisco said it raised its bid after only a few Tandberg shareholders agreed to
the company's initial offer.
Intel (INTC) shares rose 42 cents to $20.25. The world's largest chipmaker on
Monday raised its quarterly cash dividend to 15.75 cents a share, or 63 cents a
share for an entire year.
Dell Inc. (DELL) shares rose 39 cents to $15.79 in advance of the PC giant's
quarterly results, due Thursday.
Other gains came from Apple (AAPL), Oracle (ORCL), IBM Corp. (IBM), Hewlett-
Packard Co. (HPQ), Yahoo Inc. (YHOO), Microsoft Corp. (MSFT) and Google Inc. (
GOOG).
Investors showed some enthusiasm for the latest retail sales figures, which
were helped by a rebound in U.S. auto sales.
(END) Dow Jones Newswires
11-16-091020ET
Copyright (c) 2009 Dow Jones & Company, Inc.
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