Technology stocks run in place

Summary:The Nasdaq slips, unable to continue the previous session's stellar gains, closing down 8.14 to 2,313.73.

The Nasdaq posted a slight gain Tuesday, marking the sixth straight day the technology-heavy index has gained ground.

At the close of regular trading, the Nasaq was up 8.26 to 2,313.85, while the Dow Jones industrial average fell 80.68 to 11,257.24.

The co-founder of storage maker EMC and his wife have filed to sell 10.1 million shares of stock in the company, according to documents filed with the Securities and Exchange Commission on Monday. Shares fell 70 cents to $40.

AOL Time Warner fell 45 cents to $56.15 but sparked a small rally for Internet service provider stocks after it announced it will raise its subscription rate by $1.95. Wall Street widely anticipated the company to make the move in an attempt to meet near-term financial goals.

The news brought speculation that AOL's decision would make other ISPs' offerings more attractive, and it boosted EarthLink, up 66 cents to $14.15; Prodigy Communications, up 63 cents to $3.13; Excite@Home, up 48 cents to $4.81; and Juno Online Services, up 33 cents to $1.75.

Ciena gained $3.50 to $64.30 on news that AT&T is using its optical transport system. AT&T was down 76 cents to $21.15.

Analysts are being cautiously upbeat about networking-equipment giant Cisco Systems, which has been in the doghouse for the past few months because of inventory issues. Shares were up 61 cents to $23.48.

Ask Jeeves was up 95 cents, or 48 percent, to $2.92, has snapped up assets of direct marketing company eTour and says it will turn a profit by its fourth quarter.

Redback Networks slid $1.69, or 9 percent, to $17.31 after the resignation of the company's CEO brought on downgrades.

Amazon.com fell 13 cents to $16.25, and Yahoo gained 63 cents to $22.13.

Intel fell 37 cents to $29.53, Microsoft rose $1.52 to $70.31, and Oracle lost 52 cents to $17.58.

Staff and Reuters contributed to this report.

Topics: AT&T, Amazon, Cisco, EMC, Hardware, Intel, Microsoft, Oracle, Storage

Kick off your day with ZDNet's daily email newsletter. It's the freshest tech news and opinion, served hot. Get it.

Related Stories

The best of ZDNet, delivered

You have been successfully signed up. To sign up for more newsletters or to manage your account, visit the Newsletter Subscription Center.
Subscription failed.