NEW YORK (
) -- Tech stocks gained serious ground Monday as
in the wake of hurricane Irene. The hurricane's less-than-expected impact on New York City, combined with strong economic data, helped lift a host of Silicon Valley stocks.
, recently cited as a
, was one of the rally's leaders, climbing 7.44% to close at $37.39. Overall, the Nasdaq closed up 3.32%.
SanDisk led a surge in tech stocks on Monday.
investors also got some respite from the recent issues weighing on their shares.
Shares of HP, which plunged on the company's recent
, closed up 5.36% at $26.15 on Monday. Networking giant Cisco, in the throes of its own
, gained 2.74% to end the day's trading at $15.74. Before market open, Cisco had announced its acquisition of privately-held collaboration company
No. 2 PC maker
, which teamed up with
to launch its first public cloud earlier in the day, closed up 1.91% at $19.97. VMware kicked off its annual VMworld user event in Las Vegas on Monday morning, and ended the day up 4.4% at $88.50.
Internet companies were also lifted by the upsurge in investor confidence.
, for example, surged 7.38% to $13.68 while
closed up 2.32% at $539.07.
Shares of consumer tech giant
, which announced the
last week, were up 1.67% to end the day's trading at $399.67.
--Written by James Rogers in New York.
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