NEW YORK (AP) - The Nasdaq 100 index surged in Wednesday trading after
positive earnings news from Intel, Coca-Cola, JPMorgan Chase, 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 52.16 points, or 2.9 percent, to 1,846.89.
The broader Nasdaq composite added 64.07 points, or 2.8 percent, to 2,350.11.
Only three members of the Nasdaq 100 index fell during the session.
Intel, Coca-Cola and JPMorgan -- all bellwethers of their respective
industries -- beat Wall Street's first-quarter expectations.
Shares of Chinese search engine Baidu.com Inc. lead the index, surging
$29.37, or 10.2 percent, to $317.75.
Shares of KLA-Tencor Corp., which makes parts for the semiconductor
industry, added $3.36, or 8.4 percent, to $43.23.
SanDisk Corp. shares jumped $1.89, or 7.6 percent, to $26.70.
On the declining side, shares of beverage maker Hansen Natural Corp. slipped
$1.20, or 3.5 percent, to $32.85. The stock hit a 52-week low of $32.04 earlier
in the session.
Petsmart Inc. shed 25 cents to $21.30, while shares of Expedia Inc. dropped
17 cents to $23.89.
Copyright 2008 Associated Press. All rights reserved. This material may not be
published, broadcast, rewritten, or redistributed.
|