News about infrastructure investments by SBC Communications led tech shares, and the markets broadly, on to a rally.
Life returned to the major indexes Wednesday, as strength in tech sectors gave a kick in the rear to what's otherwise been a quiet week on the Street. SBC Communications helped spur the action when it said it would spend $4 billion to $5 billion over the next five years to deploy a high-speed fiber-optic network in neighborhoods. Shares of the telecom company rose 0.8%, or 18 cents, to $24.25.
Other tech issues looked as good or better. Cisco Systems rose 3.2%, or 75 cents, to $23.97; Apple Computer rose 2%, or 70 cents, to $33.70; Texas Instruments rose 2%, or 47 cents, to $24.32; Siebel Systems rose 1.4%, or 15 cents, to $11.05; Nokia rose 1%, or 16 cents, to $14.25; Dell rose 0.5%, or 18 cents, to $35.45; and Verizon rose 0.2%, or 8 cents, to $35.45. The Nasdaq-100 tracking stock rose 1.2%, or 44 cents, to $37.12, on volume of 93.7 million shares.
At the closing bell, our InformationWeek 100 was up 1.7%, or 5.33 points, to 319.18, and the Nasdaq index had risen 1.4%, or 26.83 points, to 2,020.98. The Dow rose 0.8%, or 84.50 points, to 10,479.57; and the S&P 500 rose 0.9%, or 9.65 points, to 1,144.06.
See the full listing of all the companies in the InformationWeek 100 and the top 5 percentage winners and losers for the last closing at informationweek.com/stocks.
5 Top Federal Initiatives For 2015As InformationWeek Government readers were busy firming up their fiscal year 2015 budgets, we asked them to rate more than 30 IT initiatives in terms of importance and current leadership focus. No surprise, among more than 30 options, security is No. 1. After that, things get less predictable.