NEW YORK (AP) - The Nasdaq 100 index surged in midday trading Wednesday
after positive earnings from Intel, Coca-Cola and others sparked hope the
economy may soon extricate itself from the prolonged credit crunch.
The index, which includes 100 of the largest nonfinancial securities listed
on the Nasdaq Stock Market, gained 41.40 points, or 2.3 percent, to 1,836.13 in
midday trading. The broader Nasdaq composite added 49.86 points, or 2.2 percent,
to 2,335.89. Only five members of Nasdaq 100 were falling at midday.
Intel and Coca-Cola -- bellwethers of their respective industries -- beat
Wall Street's first-quarter expectations.
Shares of KLA-Tencor Corp., which makes parts for the semiconductor
industry, led the index, rising $2.95, or 7.4 percent, to $42.82.
Shares of Steel Dynamics Inc. jumped $2.54, or 7.3 percent, to $37.58.
Shares of Chinese search engine Baidu.com Inc. spiked $18.86, or 6.5
percent, to $307.30.
On the declining side, shares of beverage maker Hansen Natural Corp. slipped
$1, or 2.9 percent, to $33.05 after hitting a 52-week low of $33.02 earlier in
the session.
Shares of Expedia Inc. lost 28 cents to $23.78.
And shares of Amgen Inc. fell 15 cents to $43.21.
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