TECH STOCKS: Good News, Well Received - InformationWeek
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2/17/2004
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TECH STOCKS: Good News, Well Received

Takeover news and a production report from the Fed pushed shares higher.

Stocks continued their climb Tuesday. Helping matters was news that Cingular had won its $41 billion bid for AT&T Wireless. Also, Disney said it had rejected Comcast's hostile-takeover but also said it would listen to other offers. Then there was the Federal Reserve report that production in factories, utilities, and mines rose 0.8% in January.

Our markets ended up Tuesday. Our InformationWeek 100 index enjoyed the highest percentage gain, up 4.61 points, or 1.4%, to 339.22. The Nasdaq followed close behind, rising 26.79 points, or 1.3%, to close at 2,080.35. The Dow rose 87.03 points, or 0.8%, to end at 10,714.88. And the S&P 500 rose 11.18 points, or 0.98%, to 1,156.99.

The Nasdaq-100 tracking stock closed at $37.44, up 50 cents, or 1.4% for the day, on moderate volume of 68 million shares.

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