A last-minute rally yesterday pulled blue-chip stocks out of a deep slump, slashing sharp losses to nearly nothing in the final 30 minutes of trading. The Nasdaq composite index reached its tenth record since Dec. 18. Among stocks in the news:
Amazon.com Inc., up 20 9/16 at 158 9/16. Internet stocks rose on prospects for booming sales and increased profits.
SeaMed Corp., down 3 15/16 at 7 9/16. The Redmond maker of advanced medical instruments warned it expects net income for the second quarter ended Dec. 31 will be 15 cents a share to 17 cents because of delays and cancellations of projects. The company was expected to earn 21 cents, the average estimate of four analysts surveyed by First Call.
Lowe's Companies Inc., up 1 9/16 at 53 13/16. The nation's No. 2 retailer of home-improvement products, which is buying Eagle Hardware, said sales for the five-week period ended Jan. 1 rose 24 percent compared to the same period a year earlier.
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