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CNNfn tech stock report
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November 20, 1998: 4:29 p.m. ET
Amazon leads Internet shares; Intel slips despite analysts' upgrades
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NEW YORK (CNNfn) - Internet stocks posted strong gains in an otherwise lackluster day for technology shares Friday as an electronic commerce leader capped off a great week of gains.
Amazon.com Inc. (AMZN) jumped 26-3/16 to close at 179-7/16 after the online bookseller set a three-for-one stock split. The company's shares have increased nearly sixfold this year.
Other Internet stocks getting a boost Friday included MindSpring Enterprises Inc. (MSPG), which rose 2 to 54-5/8; RealNetworks Inc. (RNWK), which climbed 1-3/4 to 39-7/8; and theglobe.com (TGLO), which added 3-9/16 to close at 45-9/16.
In the software sector, BEA Systems Inc. (BEAS) plunged 13-1/16, nearly half its value, to 13-5/16 after the corporate software maker warned that weak Asian markets and a slump in capital spending will hurt future profits and slow revenue growth.
Autodesk Inc. (ADSK) rose 4-5/16 to 35-5/16 after the maker of computer-assisted design software reported third-quarter earnings in line with analysts' estimates.
Elsewhere in the sector, personal finance software maker Intuit Inc. (INTU) fell 2-1/2 to 57-1/2, while game-software firm Electronic Arts Inc. (ERTS) rose 7/8 to 43-5/8.
Intel Corp. (INTC) fell 7/8 to 112 as investors took some gains. Prudential upgraded the chip maker to "strong buy" from "accumulate." Prudential also raised Intel's 12-month price target to $130 from $120, while Gruntal raised its target to $125 to $120.
Other notable movers in the chip sector included Motorola Inc. (MOT), which rose 3-1/2 to 61-3/4; Novellus Systems Inc. (NVLS), which climbed 2-15/16 to 51-11/16; and Advanced Micro Devices Inc. (AMD), which slipped 1-1/8 to 27-1/2.
Among industry bellwethers, Dell Computer Corp. (DELL) rose 1-5/16 to 64-3/8, Microsoft Corp. (MSFT) rose 1-13/16 to 113-9/16, and Lucent Technologies Inc. (LU) fell 1-11/16 to 86-5/16. 
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