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
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