Chip Strength Sends Nasdaq Soaring
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A run-up by chip-related stocks was sending the Nasdaq Composite into record territory Tuesday morning as Internet investors were browsing through a number of deals across that sector.
At 11:30 a.m. Eastern, internet.com's Internet Stock Index was up 18.16, or 1.89 percent, to 977.75, the Nasdaq Composite had gained 72.66 to 4,650.57 and the Dow Jones industrial average had added 16.75 to 10,055.40.
Among the leaders, large climbers included Broadvision Inc. (BVSN), up 14-15/16 to 248, CMGI Inc. (CMGI), up 2-3/16 to 118-9/16, Doubleclick Inc. (DCLK), up 1-5/16 to 89-7/8 and Juniper Networks (JNPR), gaining 24-1/4 to 253-5/16.
National Discount Brokers Group Inc. (NDB) had soared 10-1/4 to 41-1/4. The online brokerage Tuesday said it expects to substantially surpass Wall Street estimates for its fiscal third quarter. It expects operating earnings to range from 95 to $1.05 a share.
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