The Nasdaq 100 jumped in midday trading Wednesday as investors cheered news that overall consumer prices rose less than expected in April, tempering concerns about inflation.
The index, which includes 100 of the largest nonfinancial securities listed on the Nasdaq Stock Market, gained 17.06 points to 2,017.67 in midday trading. The broader Nasdaq composite added 21.97 points to 2,517.09.
Shares of Dish Network Corp. rose $1.99, or 6.3 percent, to $33.55. An analyst at Kaufman Brothers upgraded the satellite TV operator Wednesday, the day after the company said first-quarter profit rose 65 percent.
Shares of Staples Inc. gained $1.11, or 5 percent, to $23.55 after an analyst upgraded the retail office chain due in part to its bid for Corporate Express NV.
Shares of Sun Microsystems Inc. added 70 cents, or 5.5 percent, to $13.47. A Wachovia Capital Markets analyst upgraded the server and software maker Wednesday based in part on recent stock dips.
On the declining side, shares of Whole Foods Market Inc. lost $4.18, or 12.4 percent, to $29.46. The upscale grocer said Wednesday its first-quarter profit fell 13 percent, missing Wall Street estimates.
Shares of Electronic Arts Inc. slipped $1.42, or 2.6 percent, to $53.15. The video-game maker forecast a disappointing fiscal 2009 profit.
Shares of Steel Dynamics Inc. lost 75 cents, or 2.1 percent, to $34.98. The company said last week its recent purchase of a scrap metal company would slightly drain earnings.
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