27 August 2001, 10:45 U.S. share prices were sharply higher Friday
supported by Cisco's favorable outlook issued late Thursday. The Dow industrials closed up 194.02 to 10,423.17, a 1.9% increase while the Nasdaq composite rose 4.01%, 73.83 points to 1,916.80. The S&P 500 rose 22.84 to 1,184.93. Network parts leader Cisco said it is continuing to see signs of
stabilization in its business. The company also announced a wide
reorganization of its business following sharp job cuts. Adding to the
momentum was good news from networking software company Novell which
beat quarterly estimates and offered a favorable outlook. But dealers
said gains in Microsoft may have helped the market the most. The company
announced the completion of its Windows XP development and said the new
operating system is being shipped to manufacturers. The company's
anti-trust troubles also re-surfaced after an appeals court assigned a
new judge, Colleen Kollar-Kotelly, to address Microsoft's dominance of
operating systems.
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