News of a $16 billion technology pact between
has pumped up the tech sector early on.
As part of the contract, Dell will purchase storage, microelectronics, networking, and display technology from IBM for integration into Dell computer systems. In the future, the agreement is expected to include IBM's copper, silicon-on-insulator, and other advanced technologies.
The pact, which spans seven years, also calls for broad patent cross-licensing between the two tech titans and collaboration on development of product technology.
IBM was up 7 5/8 to 174 3/8, while Dell was up 3 1/4 to 83 1/8.
Nasdaq Composite Index
was up 28 to 2294.
Dow Jones Industrial Average
was up 46 to 9322. The
was up 8 to 1236. The
was up 2 to 393.
TheStreet.com E-Commerce Index
was up 1 to 97.
A quote for
TheStreet.com Internet Sector
index was unavailable.
The 30-year Treasury bond was down 3/32 to 93 18/32, yielding 5.70%.
Most Up at Open -- NYSE
Salomon Smith Barney
initiated coverage of American Express with a buy rating.
Most Up at Open -- Nasdaq
RF Micro Devices (RFMD) , up 6 13/16 to 88
: The telecommunications equipment company yesterday announced a 2-for-1 stock split.
Most Down at Open -- NYSE
DaimlerChrysler (DCX) , down 2 3/16 to 85 3/4
Most Down at Open -- Nasdaq
CheckFree Holdings (CKFR) , down 2 5/8 to 32 7/8