Author: JT Smith
The markets came out swinging this week, as investors regained their confidence and adpoted a longer-term view. Several Linux and Open Source-related companies announced earnings, Eazel called it quits, and IBM hinted at its next CEO.The Dow Jones industrial average and Nasdaq both gained more than 4 percent for the week by the sound of the bell on Friday. The Dow closed at 11,301.74, up 480 points. The last time the Dow closed over 11,000 was in September of last year. Nasdaq ended the week at 2,198, up 91 points from last Friday.
Analysts said investors seem to be taking a longer-term approach, and ignoring most second-quarter results. James Philburn, a Chicago-based independent market analyst says that the real market test will come in the last quarter of 2001: “If investors haven’t seen [an improvement] from business by then, the markets could go back to where they were at the beginning of the year.”
Not hurting the situation this week was the U.S. Federal Reserve’s half-percent interest rate cut. This is the fifth reduction in as many months, and the Fed left open the possibility that further rate cuts could happen.
Running the numbers
Announcements
Items of interest
Eazel, we hardly knew ye. After a short but spirited existence, the company that gave Nautilus to the Linux community officially closed its doors this week.
Here’s how Open Source and related stocks ended this week:
Company Name | Symbol | 5/18 Close | 5/11 Close |
Apple | AAPL | 23.53 | 22.85 |
Caldera International | CALD | 1.89 | 2.18 |
EBIZ Enterprises | EBIZ.OB | 0.82 | 0.85 |
Hewlett Packard | HWP | 29.85 | 26.19 |
IBM | IBM | 117.44 | 111.81 |
Merlin Softwatre Tech. | MLSW.OB | 0.30 | 0.33 |
Red Hat | RHAT | 5.82 | 5.80 |
Sun Microsystems | SUNW | 19.97 | 18.85 |
VA Linux Systems | LNUX | 4.20 | 4.57 |
Wind River Systems | WIND | 22.52 | 22.54 |
Category:
- Open Source