SAN FRANCISCO -- Tech stocks have taken off to a strong start this week. Good news about PC sales and buying ahead of key earnings reports from several Internet companies are contributing to the positive tone.
PC makers are mostly firmer after
International Data Corp.
Gartner Group's Dataquest
reported that shipments of personal computers were strong in the first quarter. IDC said that sales rose 19% in the quarter, with U.S. sales up a strong 24%. Dataquest said shipments rose 17%.
maintained its ranking as the top seller of PCs, these reports indicated that its share of the domestic market fell. Dataquest reported that Compaq had a 15.7% share of the U.S. market, which was 2.1% below its year-ago market share. Compaq stock was nearly unchanged in early trading, up 1/8 to 23 1/4.
share of the domestic market rose to 14.3% from 11.4%. It was trading up 1 3/8, or 3%, at 44 3/8.
, which also had a strong quarter, was up 2 1/4, or 3%, at 71 3/4 in early trading.
will be among a number of key Internet companies reporting earnings this week. But ahead of its report, the company announced that it had acquired auction house
Butterfield & Butterfield
in a deal valued around $260 million. The two companies had entered into an agreement earlier this month to create a separate listing of premium items on eBay that would come from Butterfield & Butterfield. eBay is expected to report earnings of 2 cents a share, according to
. It was up 11 13/16, or 6%, at 211 15/16 in early trading.
Other Internet-related companies reporting earnings this week include
on Tuesday and
on Wednesday. Many Internet companies that have reported so far have followed a pattern of rallying into the report and then succumbing to profit-taking after the numbers are released
In the News
Online brokerages are on the rise following news that
had surpassed the 1 million mark in active accounts. In early trading, E*Trade was up 8 15/16, or 9%, at 113.
is among the hot stocks after three firms initiated coverage of the stock.
Morgan Stanley Dean Witter
placed an outperform rating on the company. Also,
put the stock on its recommended list, and
BancBoston Robertson Stephens
tacked on a buy rating. Morgan Stanley Dean Witter and BancBoston Robertson Stephens were underwriters for priceline.com, which was among the early leading gainers on the
, up 20 1/2, or 23%, at 108 1/2.
High-profile high-tech firms will be on display at this week's
Hambrecht & Quist Technology Conference
in San Francisco. Among the firms presenting this morning are
coverage throughout the four-day conference.