NEW YORK -- Strong earnings from technology companies, includingIntel Corp., sent stocks sharply higher Wednesday. The Nasdaqcomposite index had its biggest one-day jump in a month, and the DowJones industrial average traded near a new high for the year. TheNasdaq rose 57.54, or 2.1 percent, to 2,802.51.
The Dow Jones Industrial Average rose 186.79 points, or 1.5percent, to 12,453.79, its highest close this year, toppling the12,426 mark reached April 6.
Intel rose 6 percent, the most of the 30 companies in the Dowaverage, after the chip-maker reported that its income rose 29percent in the first quarter because of rising demand for personalcomputers. The results easily beat analysts' expectations andallayed concerns that surging sales of tablet computers would hurtIntel's results.
Amphenol Corp. rose 6 percent, the most of any company in the S&P500 index, after reporting that its earnings per share rose 31percent. The company makes fiber optic connectors and electricalequipment.
The Standard & Poor's 500 index rose 17.74, or 1.4 percent, to1,330.36.
The stronger corporate earnings reports came after mainlydisappointing results released last week. Google Inc. and Alcoa Inc.were among the big companies whose earnings didn't live up toexpectations.
Technology Council seeks award nominees
The Connecticut Technology Council is seeking nominations for theMarcum Tech Top 40, a ranking of the fastest-growing technologycompanies in the state.
The awards program, which began in 2008, recognizes companies onthe basis of revenue growth. To be eligible, companies need to havebeen in business for at least four years and have fourth-yearrevenues of at least $3 million.
The 40 fastest growing companies will be compiled across sixcategories: software; IT services; new media, Internet and telecom;life sciences; advanced manufacturing; and energy and environmentaltechnolgy.
Applications are due May 31. For more information, includingfurther eligibility details, visit www.ct.org.
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