You'll get your Mac news here from now on...

Help TMO Grow

Subscriber Login

Advertising Info


The Mac Observer Express Daily Newsletter


More Info

Site Navigation

Home
News
Tips
Columns & Editorials
Reviews
Reports
Archives
Search
Forums
Links
Mac Links
Software
Reports
Contact

October 28th, 1999

[4:00 PM] Apple Stock Watch: Stock Markets Soars, Apple Climbs 1 1/2 Points Closer To A New High
by Wes George

Wall Street responded euphorically to the strong gross domestic product in the 3rd quarter, which grew at a 4.8% annual rate with low inflation. Real GDP was also revised upward for the 2nd quarter from 1.6% to 1.9%. The Employment Cost Index rose 0.8% in the 3rd quarter, less than the expected 0.9%, indicating that wage pressures are mild. The question confronting the street tomorrow is: can we build on today's gains?

The Dow advanced 227.64 or 2.19% to close at 10622.53 lead by the financial stocks on heavy volume. The Nasdaq gained 72.63 or 2.59% to close at 2875.15 with 1.2 billion shares traded, almost a record. The Nasdaq is up nearly 30% for the year. The S&P 500 rose 45.72 or 3.53% to close at 1342.43.

The 30-year US Treasury bond yield dropped to 6.24% from 6.33% Wednesday.

Apple saw an intraday high of 79, but couldn't hold it settling up 1 1/2 or 1.96% to close at 77 7/8. Apple's current all-time high is 79 1/16 set on September 20th of this year.

Macromedia reported strong earnings today, advancing 5 5/16 to close at 62 1/16. Bears & Stearns Analyst Robert Fagin said about Macromedia: "Revenues from the company's core Web software business are expected to rise about 25% sequentially in the third fiscal quarter of 2000, but Shockwave.com spending will continue to be a drag on the bottom line."

In other Apple related stocks today, Adobe rose 3 13/16 to 66 1/2 on the first day after their 2 for 1 stock split. Banc of America Securities initiated coverage on Symantec with a buy recommendation boosting Symantec 7/8 to close at 45 7/16. Intel advanced strongly ahead of a late afternoon analysts meeting starting at 5:00 PM EST at Intel's web site.

Hewlett-Packard bounced back from yesterday's losses, up 4 1/8 to close at 71 1/8. Apple's Power PC partners IBM and Motorola both ended the day up strongly. IBM announced a US$1.5 billion contract with Nissan Motor Co. (NSANY). However, Microsoft and Compaq continued their loosing streak after analysts grew pessimistic about Microsoft's latest quarterly earnings. Dell barely closed higher after spending the day in negative territory. Gateway closed up strongly.

For full quotes on all the companies mentioned in this article, we have assembled this set of quotes at Yahoo! for your reference. We also have many of these same quotes reported live (20 minute delay) on our home page. For other stories regarding Apple's stock activity, visit our Apple Stock Watch Special Report.

Apple



Today's Mac Headlines

[Podcast]Podcast - Apple Weekly Report #135: Apple Lawsuits, Banned iPhone Ad, Green MacBook Ad

We also offer Today's News On One Page!

Yesterday's News

 

[Podcast]Podcast - Mac Geek Gab #178: Batch Permission Changes, Encrypting Follow-up, Re-Enabling AirPort, and GigE speeds

We also offer Yesterday's News On One Page!

Mac Products Guide
New Arrivals
New and updated products added to the Guide.

Hot Deals
Great prices on hot selling Mac products from your favorite Macintosh resellers.

Special Offers
Promotions and offers direct from Macintosh developers and magazines.

Software
Browse the software section for over 17,000 Macintosh applications and software titles.

Hardware
Over 4,000 peripherals and accessories such as cameras, printers, scanners, keyboards, mice and more.

© All information presented on this site is copyrighted by The Mac Observer except where otherwise noted. No portion of this site may be copied without express written consent. Other sites are invited to link to any aspect of this site provided that all content is presented in its original form and is not placed within another .