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TECH STOCKS: Scarce New Jobs Worry Buyers

Disappointing jobs news left our indexes treading water at best.
Stocks ended mixed Friday after disappointing job-growth figures left investors wondering if the economy is strong enough to warrant current share prices.

The Dow industrials average rose 7.55 points, or 0.1%, to 10,595.55, and the Standard & Poor's 500 rose 1.98 points, or 0.2%, at 1,156.86. For the week, the Dow was up 0.1% and the S&P 500 was up 1%.

The Nasdaq composite index fell 7.48 points, or 0.4%, to 2,047.63. For the week, the Nasdaq was up 0.9%. Our InformationWeek 100 fell 1.11 points, or 0.3%, Friday to 333.35, and was the big loser of the week, having fallen 1.3%.

The Labor Department reported that the economy added just 21,000 jobs in February, far short of the 125,000 expected by economists. Making matters worse, the January new-jobs figure was revised from 112,000 to 97,000. The February unemployment rate remained stalled at 5.6%.

Among tech shares, the Nasdaq-100 tracking stock fell 13 cents, or 0.03%, to $36.63, on heavy volume of 118 million shares. Intel fell 70 cents to $28.95. The chipmaker Thursday cut its first-quarter sales forecast, blaming a seasonal sales slump and its transition to new products. Sun Microsystems fell 36 cents to $4.80, after Standard & Poor's cut the company's bond rating to junk status.

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.

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