Wednesday's Tech Stocks: Good News Sends Markets Higher - InformationWeek

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4/21/2004
05:48 PM
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Wednesday's Tech Stocks: Good News Sends Markets Higher

Positive earnings reports buoyed investors' spirits and helped send all the major indexes higher.

All the major indexes rose Wednesday as earnings reports from companies such as Motorola and eBay topped expectations and improved investor optimism.

Motorola was up $3.08, or 19%, to $19.30 one day after reporting revenue and earnings that far exceeded expectations. Also, eBay rose 81 cents, or 1.1%, to $74.78; after the bell, it reported a big jump in first-quarter sales and profits. Other gainers included Nortel Networks, which rose 4.9%, or 26 cents, to $5.57; Research in Motion, which rose 2.95%, or $2.92, to $102.00; and SBC, which rose 41 cents, or 1.7%, to $24.77 and reported first-quarter profits that exceeded expectations. Among other winners were Cisco Systems, up 26 cents, or 1.2%, to $22.37, and IBM, which rose 61 cents, or 0.7%, to $91.26.

For the day, the InformationWeek 100 rose 1.90 points, or 0.6%, to 328.28, and the Nasdaq index was up 0.9%, or 17.00 points, to 1,995.63. The Nasdaq-100 tracking stock rose 31 cents, or 0.9%, to $35.99, as 116.2 million shares changed hands. The Dow industrials rose 2.77 points, or 03%, to 10,317.27, and the S&P 500 rose 5.94 points, or 0.5%, to 1,124.09.

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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