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CNNfn tech stock report
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January 15, 1999: 4:20 p.m. ET
Investors return to chip, software shares; Internet shares end mixed
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NEW YORK (CNNfn) - Technology shares staged a strong rebound Friday as investors went bargain hunting for stocks that had been heavily sold off earlier in the week.
The software sector got a boost from a pair of analyst upgrades. Intuit Inc. (INTU) rose 6-1/2 to 85-3/16 after Credit Suisse First Boston raised its rating to "strong buy" from "buy." Intuit is set to release the online version of its TurboTax tax-preparation software next week.
BMC Software Inc. (BMCS) added 2-5/16 to 40-1/16 after Prudential Securities raised its rating on the business-software maker to "strong buy" from "accumulate."
BMC Rival Citrix Systems Inc. (CTXS) followed suit, climbing 6-5/16 to 95-5/16.
Elsewhere, Symantec Corp. (SYMC) closed 2-5/8 higher at 22-7/8 after reporting third-quarter earnings slightly ahead of Wall Street estimates; Microsoft Corp. (MSFT) finished 8 higher at 149-3/4; and Macromedia Inc. (MACR) added 1-9/16 to 36-3/16.
Chip shares returned to the positive side of the ledger, led by Intel Corp. (INTC), which rose 1-5/8 to 135-3/8.
Chip-equipment maker Applied Materials (AMAT) closed up 2-15/16 at 56-3/16, while Novellus Systems Inc. (NVLS) added 8-5/16 to 74-3/8.
Advanced Micro Devices Inc. (AMD), however, slipped 1/8 to 22-3/8, still feeling the effects from its disappointing fourth-quarter earnings report.
Internet shares finished the day mixed, with some of the more high-flying players tumbling while other stocks found positive ground.
@Home Network (ATHM) finished 5/8 lower after the high-speed Internet access provider signed a deal with RealNetworks Inc. (RNWK) to build a broadband platform to deliver near-TV quality video to @Home customers. RealNetworks shares rose 4-15/16 to 55.
The other big Internet winner was Marketwatch.com (MKTW), which soared 80-1/2 to 97-1/2 in its first day of trading. The San Francisco-based news provider jumped 474 percent from its offering price of $17 a share.
Some big-name Internet players, however, found their shares continuing to slide, including Web portal leader Yahoo! Inc. (YHOO), which plunged 26-15/16 to 317. The company's stock has plunged 128 points since peaking at 445 Monday.
Also falling sharply was Broadcast.com Inc. (BCST), which lost 14-1/16 to 139-13/16, and Inktomi Corp. (INKT), which shed 10 to 148-1/2 despite posting a narrower-than-expected first-quarter loss.
Finally, Motorola Inc. (MOT) rose 2-7/8 to 69-3/8 after receiving ratings upgrades from Gruntal and BT Alex.Brown. 
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