NEW YORK (AP) - The Nasdaq 100 index jumped in midday trading Wednesday as
investors awaited the Federal Reserve's decision on interest rates, and after
economic data showed the economy grew more than expected in the first quarter.
The index, which includes 100 of the largest nonfinancial securities listed
on the Nasdaq Stock Market, gained 15.19 points to 1,948.79 in midday trading.
The broader Nasdaq composite added 18.69 points to 2,444.79.
Shares of search engine operator Google Inc. helped lead the index, rising
$25.25, or 4.5 percent, to $583.72.
Shares of beverage maker Hansen Natural Corp. jumped $1.46, or 4.2 percent,
to $35.97.
Shares of Apollo Group Inc., which operates the University of Phoenix,
increased $2.02, or 4.2 percent, to $50.51.
On the losing side, shares of Garmin Ltd. dropped $5.67, or 12.2 percent, to
$40.82. The personal navigation device maker's first-quarter profit jumped more
than 5 percent, but fell shy of Wall Street's estimates.
Shares of Focus Media Holding Ltd. lost $1.56, or 4 percent, to $37.44.
Shares of KLA-Tencor Corp. shed $1.22, or 2.7 percent, to $44.51. The
company, which makes products for the chip industry, said Tuesday it priced its
senior notes offering at $750 million.
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