By Kate Hanaghan, 11 October 2001 10:57
NEWS Chip industry giants AMD and Intel made significant gains overnight pushing the Nasdaq into the green. The tech-heavy composite index gained 3.6 per cent by close. The announcement from Motorola that it plans to slash a further 7,000 jobs and will post a loss in the third quarter was welcomed by the US market. The company hit Wall Street expectations. Its share price rose 1.1 per cent in overnight trading. Intel gained a substantial 7.5 per cent, while its rival AMD was an impressive 8.2 per cent up.
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