NEW YORK (AP) - The Nasdaq 100 index rose in midday trading Tuesday after
Federal Reserve Chairman Ben Bernanke voiced confidence the economy will improve
later this year, but hinted additional interest rate cuts may not come for a
while.
The index, which includes 100 of the largest nonfinancial securities listed
on the Nasdaq Stock Market, gained 14.04 points to 2,020.88 in midday trading.
The broader Nasdaq composite advanced 16.55 points to 2,508.08.
Shares of Ryanair Holdings PLC rose $1.67, or 6.6 percent ,to $27.04 after
the company posted a jump in fiscal 2008 sales, but said profit slipped more
than 10 percent.
Shares of personal navigation device maker Garmin Ltd. gained $3.65, or 7.2
percent, to $54.22.
Shares of SanDisk Corp. increased $1.72, or 6.3 percent, to $29.06.
On the declining side, shares of Sun Microsystems Inc. slipped 31 cents, or
2.4 percent, to $12.63. On Monday, the server and software maker said its global
sales chief resigned.
Shares of Amylin Pharmaceuticals Inc. shed 53 cents to $30.80.
Shares of chip maker Nvidia Corp. lost 52 cents to $24.28.
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