TECH STOCKS: Good News, Well ReceivedTECH STOCKS: Good News, Well Received

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

George V. Hulme, Contributor

February 17, 2004

1 Min Read
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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 information 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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About the Author

George V. Hulme

Contributor

An award winning writer and journalist, for more than 20 years George Hulme has written about business, technology, and IT security topics. He currently freelances for a wide range of publications, and is security blogger at information.com.

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