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U.S. Stocks Mixed
As Tech Shares Rebound

Reuters
NEW YORK — Stocks ended mixed Monday as blue chips failed to rally along with technology shares, which rebounded on reports of a business shake-up at Microsoft Corp.

Based on early, unofficial data, the Dow Jones industrial average ended down 13.13 points, or 0.14 percent, at 9,291.11. In the broader market, declining issues beat advances 16 to 14 on moderate volume of 706 million shares on the New York Stock Exchange.

The technology-laced NASDAQ composite index gained 31.30 points, or 1.32 percent, to 2,404.92, rebounding from two negative sessions at the end of last week.

The market was rocked last week by a wave of profit taking in technology stocks and by concern that the Federal Reserve may raise interest rates after data showed the economy powering ahead at a faster pace than expected.

Semiconductor equipment makers were higher from the start after brokerage houses upgraded the sector.

Intel Corp. closed up 4 7/16 at 132, regaining some of last week's lost ground, after the world's largest computer chip maker announced price cuts in an aggressive move to win back market share in the low-end of the PC market.

Microsoft Corp. rose 5 1/4 to 165 1/4 after the company said it was teaming up with British Telecommunications Plc to develop a range of Internet and corporate data services for users of cell phones, pagers and hand-held computers.

A report of an impending reorganization at Microsoft was also seen as positive. The Seattle Times online edition said Microsoft could this week announce plans to reorganize to focus on customer service and improve its presence on the Internet.

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