TECH STOCKS: Cisco, Intel Gains Lead Broad Tech Advance
By Rex Crum
Technology stocks started the week on an upbeat note Monday, closing with
broad gains as the likes of Cisco Systems Inc. and Intel Corp. led the advance
and investors reacted positively to the latest national retail-sales figures.
The Nasdaq Composite Index (RIXF) rose almost 30 points to close at 2,197,
while the Philadelphia Semiconductor Index (SOX) climbed almost 2%. The Morgan
Stanley High Tech 35 Index (MSH) rose 1%.
Among tech stocks, Cisco (CSCO) shares rose 16 cents to $23.87. Before the
market opened, Cisco raised its bid for Norwegian videoconferencing firm
Tandberg ASA. The 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 41 cents to end the day at $20.23. 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 56 cents to $15.96 ahead of the PC giant's
quarterly results, due Thursday.
Other gains came from Apple Inc. (AAPL), Google Inc. (GOOG), Hewlett-Packard
Co. (HPQ), International Business Machines Corp. (IBM), Oracle Corp. (ORCL) and
Yahoo Inc. (YHOO)
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
11-16-091647ET
Copyright (c) 2009 Dow Jones & Company, Inc.
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