TECH STOCKS: Tech Stocks Build On Broad Gains
By Rex Crum
Technology stocks added to gains Monday, with the likes of Cisco Systems
Inc. and Intel Corp. leading the advance, on upbeat reaction to the latest
national retail sales figures.
The Nasdaq Composite Index (RIXF) rose more than 30 points to 2,198, 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 31 cents to $24.02. Before the
market opened, Cisco 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 39 cents to $20.21. 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 54 cents to $15.94 ahead of the PC giant's
quarterly results, due Thursday.
Other gains came from Apple Inc. (AAPL), Oracle Corp. (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
11-16-091325ET
Copyright (c) 2009 Dow Jones & Company, Inc.
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