Excerpted from:
CBS MarketWatch
Business Objects gains, defying trend
CBS.MarketWatch.com - By Jenny Spitz -- Oct. 24, 2003
SAN FRANCISCO (CBS.MW) -- European technology firms were weak in U.S. trading Friday with the exception of Business Objects, which soared 15 percent.
The Bank of New York European ADR Index fell 0.15 at 96.48.
The decline in European issues was in line with losses suffered in general in U.S. trading.
"The market is a little tired and is due for a rest," said Lazard Freres senior trader John Gilette.
French enterprise software maker Business Objects (BOBJ: news, chart, profile) jumped $4.23 to $32.90 after the company reported that its third-quarter net income rose 122 percent from the year before.
But most tech stocks were weaker after both Microsoft (MSFT: news, chart, profile) and Gateway (GTW: news, chart, profile) reported disappointing quarterly results.
Infineon Technologies (IFX: news, chart, profile) lost 20 cents to $13.94, STMicroelectronics (STM: news, chart, profile) was down 2 cents at $25.90 and Nokia (NOK: news, chart, profile) slipped 7 cents to $16.87.
Shares of Royal Dutch Petroleum (RD: news, chart, profile) fell 47 cents to $44.72 a day after the oil firm missed the Wall Street consensus with its third-quarter earnings. See full story.
Jenny Spitz is headline editor for CBS.MarketWatch.com in San Francisco.
