SAN FRANCISCO -- Tech stocks were mixed Thursday, with earnings warnings pulling some issues lower, and a few noteworthy deals providing support elsewhere.
Wireless phone distributor
, PC distributor
and security software maker
all warned of lower-than-expected earnings.
But the winners picked up the slack, with some Internet companies leading gains.
soared 3 3/4, or 41%, to 12 7/8. The company said on Monday that demand for its email to fax service was heavy. It said it had signed up more than 100,000 users in the first month.
Some investors said demand was so heavy that it is taking two to three days for the company to assign personal fax numbers.
also rose after announcing a deal with regional U.S. phone company
to offer high-speed Internet access to seven U.S. states by year-end.
AOL was up 2 5/8, or about 3%, at 95 7/16 and SBC was up 7/8 at 52 9/16.
initiated coverage of
with buy ratings. PaineWebber placed a $125 price target on Exodus and a $50 target for AboveNet.
Exodus last traded up 6 9/16, or about 7%, at 103 5/8. AboveNet rose 5 7/16, or 14%, to 44 3/4.
3Com-Microsoft Deal Helps Boost Shares
agreed to work together to develop networking products. The deal pushed 3Com stock up about 7% to 26 5/16. Microsoft was up 2 7/16 at 163 3/4.