Nasdaq At A Record

Thu., Jan. 20, 2000

From Staff

The Nasdaq composite index rose to a record high Wednesday even as investors punished Microsoft for a profit report that met published estimates but failed to impress some Wall Street analysts.

The Nasdaq rose 20.48 to 4,151.29, its first record since it closed at 4,131.15 on Jan. 3. The Dow Jones industrial average fell 71.36 to 11,489.36, a decline that came almost entirely from Microsoft.

Microsoft fell 8-5/16 from its 1 p.m. PST price Tuesday to 107. Late Tuesday, the company said it earned $2.44 billion, or 44 cents per share, in its fiscal second quarter, compared with the 42 cents predicted by analysts surveyed by First Call/Thomson Financial.

But traders said Microsoft’s “whisper number” - an unofficial prediction circulated on the Internet and on trading floors - was as high as 49 cents, setting up some investors for disappointment.

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Nasdaq At A Record

Jesse Tinsley

Jim Meehan

Molly Quinn

Rob Curley

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