After a dismal week, technology stocks rose sharply during trading today, boosting the NASDAQ Composite Index 21.02 points to 1269.08.
Big jumpers included Intel Corp., up $7.38 to $140.63, and IBM, up $4.50 to $140.38.
Earlier today, a Donaldson, Lufkin & Jenrette Inc. analyst said Intel was "more attractive at current valuation levels."
Networking stocks, particularly Cisco Systems Inc., also rose today. Cisco was up 50 cents after the news that it bought Telesend, through which it unveiled a new channel unit of D4 Digital Subscriber Line frame muxes.
Also, analysts at Josephthal, Lyon & Ross upgraded the stock from hold to buy, saying it was undervalued.
Several analysts attributed today's rise to bargain hunting. Other stocks that closed up included Dell Computer Corp., up $3.94 to $71.44, Texas Instruments Inc., up $4.13 to $81.13, and Microsoft Corp., which rose $3.94 to $94.25.