Dow Gets Boost From Intel Strength

Tue., June 20, 2000

From Staff

New York Intel drove the Dow Jones industrial average and the Nasdaq composite sharply higher Monday as investors rewarded the company for its strong growth prospects.

But while the market averages rose, there were notable pockets of weakness. A bastion of the old economy, Dow component Honeywell International, became the latest big name to warn that its secondquarter earnings will miss expectations, and its stock plunged.

The Dow, down 265.52 on Friday, rose 108.54 points Monday, or by 1 percent, to close at 10,557.84.

Intel rose $10.438 to $135.125, accounting for more than half of the Dow’s gains. The company said it will invest $2 billion in a new plant in Ireland. Lehman Brothers analyst Dan Niles said Intel’s stock price should reach $175 within 12 months.

This sidebar appeared with the story: Close: 10,557.84 For year: Down 939.28

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Dow Gets Boost From Intel Strength

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