Tech Stocks: Chipmakers Led Monday's Rise

Wall Street analysts expect earnings generally to be up 20% compared with one year ago.

April 13, 2004

1 Min Read
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The InformationWeek 100 index rose 2.25 points, or nearly 0.7%, Monday to close at 340.48, while the Nasdaq rose 12.6 points, or more than 0.6%, to 2,065.46. The Dow rose 73.53 points, or 0.7%, to 10,515.56, and the S&P 500 also rose -- 5.9 points, or more than 0.5% -- to finish the day at 1,145.22. Wall Street analysts expect earnings generally to be up 20% compared with one year ago; semiconductor stocks were particularly active in anticipation of earnings from Intel on Tuesday and Texas Instruments and Advanced Micro Devices later in the week. Intel, one of Monday's most heavily traded stocks, rose 0.8%, to $27.60. Wall Street expects the chipmaker to report earnings of 27 cents per share for its first quarter on sales of $8 billion to $8.2 billion. Texas Instruments shares rose 1%, to $29.47, and AMD shares rose nearly 2.2%, to $17.37.

Hewlett-Packard, on the other hand, fell 1%, to $22.63 a share, after Goldman Sachs recommended selling HP stock and buying Dell. The Nasdaq-100 tracking stock closed at $37.19, up 25 cents, or nearly 0.7%, on very light trading of less than 50 million shares.

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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