Roundup: yesterday's markets

Stock trends around the world

The Dow fell marginally and Nasdaq managed a 1.03 percent rise. Tokyo was closed for a holiday. AMD rose 4.2 percent as a result of its announcement that it was shipping a 300 MHz processor for laptops -- the same as Intel's fastest laptop processor. The ability of Broadcast.com to handle the Clinton adult video ("a record day for simultaneous users" -- hope they did it in private) pushed its shares up 15 percent, helped by Morgan Stanley cheering them on as "outperformers". HP fell 2.3 percent after Standard & Poor downgrading its outlook to "negative", because of the competition HP faces. Infoseek, helped by being "selected" by Microsoft (for a hefty fee) as a premier search partner, put on 6 percent. Ciena gained 42 percent as a result of rumours that Cisco might be sniffing around, and because it started shipping its Sentry 4000 multiplexor. Philips, punished the previous day for anticipated poor Q3 results, gained 4 percent. Lernout & Haupsie, the Belgian translation company in whom Microsoft has a 6 percent investment, gained 9 percent following its report of expected 1998 translation sales of $90 million, after first-half sales of $25 million. A duff Dow Jones report claimed that L&H earns $100 million from its Microsoft deal, which isn't true. More acquisitions are expected, L&H said. Micron tumbled 7.5 percent after being caned by Merrill Lynch for anticipated future losses. NCR added 8 percent after Salomon Smith Barney said "buy". Other gainers included Oracle (up 2.9 percent)and National Semiconductor. ®

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