end a volatile week as a winner, up 1.8%. This was the first time in seven weeks that the tech-heavy index, the
ended higher for the week.
Shares of fiber-optics maker SDL jumped 17.3% to close at $339.03 Friday after reporting earning 7 cents above analyst expectations. On Thursday, the company reported third-quarter earnings of $40.4 million, or 45 cents a share, compared to $7.8 million, or 11 cents a year ago. Revenue was driven by the "significant" increases in shipments of communications equipment for both terrestrial and undersea fiber-optic systems, the company said. The company also announced plans to expand its manufacturing facilities, citing a backlog of orders.
which announced plans in June to acquire SDL, rose 13.8% to close at $102.38
While frayed nerves about the current quarter's earnings roiled the market in the last two weeks, investor were now setting their sights on next quarter's earnings prospects.
As the Nasdaq faltered early this morning, participants were worried that profit-taking would eat at Thursday's third-largest Nasdaq point and percentage gains ever. But ending the day firmly in the green, the Nasdaq was sustained by the two-day technology rally that helped it gain 5% this week. Investors breathed a collective sigh of relief tonight after watching the Comp flirt with the 3000 resistance level earlier this week.
was the second most active Nasdaq stock, continuing to surge after reporting a strong quarter Wednesday. Vibrant sales of its Windows 2000 software helped the company bounce 20% Thursday and another 5.4% today to close at $65.19.
3:02 p.m.: eBay Gives Shot in Dot-Com Arm
In an easy come, easy go market, yesterday's superstar sector can easily be today's trading trauma.
Yesterday's big party was for telecommunication and semiconductor companies and it was hosted by
. Cell phone giant Nokia reported strong earnings yesterday morning and Broadcom announced its own positive results after the close on Wednesday.
But today, cellular phone giant
was a party pooper. It cut
this year's forecasts for profitability and sales due to losses from mobile-phone production.
Ericsson's stock fell by 15.2% after it warned that its sales will rise about 25% this year and that operating profits will be 6% to 7% of sales, instead of the 10% that had been expected. The shortfall was due to lost market share in handset sales to Nokia, which traded lower in the morning but had rebounded to lately trade 3% higher.
, following its
earnings call with analysts last week, cut its earnings expectations for the fourth quarter. Motorola, knocked down over the past few weeks, was lately up 1.9%.
Is one out of three that bad? With the most earnings of the three largest mobile phone makers now released, it seems only the leader, Nokia, is producing the kind of growth in the area for which investors had hoped.
Today's been another good day for Internet stocks, with
TheStreet.com Internet Sector
index up 6.4% with the help of online auctioneer
. The company's strong earnings report, released after the close yesterday, sent its stock soaring. As a closely watched indicator of the health of the e-tail market, eBay's good news came just in time to prop up the Internet sector from its recent slump. eBay was lately up 5%.
Despite concerns about a slowing online advertising market and dwindling ad dollars for the once burgeoning cyber ad space, both
and eBay managed to post solid results in the most recent quarter of business.
wrote separate stories on
AOL's earnings, which were both released earlier this week.
this morning raised earnings estimates on eBay to 21 cents a share from 19 cents in 2000, and 36 cents from 35 cents for 2001. Both
were higher on eBay's earnings surprise. Barnes&Noble.com was up 5.8%, while Amazon was gaining 7.2%.