Nasdaq Leads as Stocks Move Higher at the Open - TheStreet

Stocks were firm early on, led by the tech sector, in the wake of three big takeover announcements.

The

Nasdaq Composite Index

was up 29 to 2490. The

Dow Jones Industrial Average

was up 27 to 9814. The

S&P 500

was up 5 to 1292. The

Russell 2000

was up 2 to 400.

TheStreet.com Internet Sector

index was up 13 to 656.

TheStreet.com E-Commerce Index

was up 2 to 115.

BP Amoco

(BPA)

agreed to buy

Atlantic Richfield

(ARC) - Get Report

for $26.8 billion in stock. Elsewhere,

Yahoo!

(YHOO)

said it is buying

broadcast.com

(BCST)

in a deal valued at about $5.7 billion, while

CBS

(CBS) - Get Report

is acquiring

King World Productions

(KWP)

for about $2.5 billion.

The 30-year Treasury bond was down 9/32 to 94 9/32 yielding 5.65%. In minutes, the

National Association of Purchasing Management

is slated release its March index.

Most Up at Open -- NYSE

America Online (AOL) , up 5 to 152 11/16

.

Most Up at Open -- Nasdaq

RealNetworks (RNWK) - Get Report, up 14 7/16 to 136 5/8

.

Most Down at Open -- NYSE

Union Pacific (UNP) - Get Report, down 1 13/16 to 51 5/8

.

Most Down at Open -- Nasdaq

Iona Technologies (IONA) , down 13 1/2 to 16 7/8

: The company said first-quarter results will be below its expectations. The company expects to post a loss of between 3 cents a share and break-even, compared with earnings of 10 cents a share in the year-ago period.