Markets brace for earnings madness
The broader markets posted a slight gain Monday as investors brace themselves for a flurry of earnings reports due out this week from leading technology firms.
The Dow rose 27.01 points to 8072.22 and the NASDAQ closed up 3.07 points to 1742.10.
Among the companies that will report third-quarter results this week, Texas Instrument Inc. enjoyed the best day, rising $2.13 per share to $140.50. Intel Corp. lost 50 cents per share to $92.50. Digital Equipment Corp. lost 19 cents per share to $49.61.
Netcom On-Line Communications Services Inc. rose $5.94, or 39 percent, to $21.06 after ICG Communications Inc. announced it would buy the Internet service provider for $283.5 million in stock.
Novellus Systems Inc. was up more than $1.88 per share in early trading before closing down $2.13 per share to $127.25. The semiconductor equipment maker reported third-quarter profits of $1.14 per share, beating First Call estimates by 5 cents per share.
Israel's VocalTec Communications Ltd. rose three to a 12-month high of $29.69, up $3.69 a share, after Barron's described the company as the leader in Internet telephone and gateway software.
Software developer Citrix Systems Inc. gained $5.19 per share, or 10 percent, to $61.37 after Lehman Brothers started coverage of the stock with a "buy" rating.
Compaq, which will announce its results Thursday, was unchanged at $76.44. Dell Computer Corp. picked up 27 cents per share to $100.50 while Gateway 2000 slid back 75 cents per share to $35.25.
Among major software concerns, Microsoft Corp. gained 31 cents per share to $136.81, Oracle Corp. was up 19 cents per share to $36.31 and Adobe Systems Inc. soared up $1.56 per share to $51.88.
The broader markets posted a slight gain Monday as investors brace themselves for a flurry of earnings reports due out this week from leading technology firms.
The Dow rose 27.01 points to 8072.22 and the NASDAQ closed up 3.07 points to 1742.10.
Among the companies that will report third-quarter results this week, Texas Instrument Inc. enjoyed the best day, rising $2.13 per share to $140.50. Intel Corp. lost 50 cents per share to $92.50. Digital Equipment Corp. lost 19 cents per share to $49.61.
Netcom On-Line Communications Services Inc. rose $5.94, or 39 percent, to $21.06 after ICG Communications Inc. announced it would buy the Internet service provider for $283.5 million in stock.
Novellus Systems Inc. was up more than $1.88 per share in early trading before closing down $2.13 per share to $127.25. The semiconductor equipment maker reported third-quarter profits of $1.14 per share, beating First Call estimates by 5 cents per share.
Israel's VocalTec Communications Ltd. rose three to a 12-month high of $29.69, up $3.69 a share, after Barron's described the company as the leader in Internet telephone and gateway software.
Software developer Citrix Systems Inc. gained $5.19 per share, or 10 percent, to $61.37 after Lehman Brothers started coverage of the stock with a "buy" rating.
Compaq, which will announce its results Thursday, was unchanged at $76.44. Dell Computer Corp. picked up 27 cents per share to $100.50 while Gateway 2000 slid back 75 cents per share to $35.25.
Among major software concerns, Microsoft Corp. gained 31 cents per share to $136.81, Oracle Corp. was up 19 cents per share to $36.31 and Adobe Systems Inc. soared up $1.56 per share to $51.88.