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Byline: DAVID SAITO-CHUNG
The Nasdaq gained 0.5% Friday to close the week up 1.6%. Volume dropped. The Nasdaq 100 rallied 1.9% for the week.
Some wireless telecom gear makers have made decent strides in recent weeks. Qualcomm has rallied 39% since late April and is near the top of a nine-month cup base. The stock traded quietly Friday, edging down 24 cents to 44.75 on below-average trade.
Garmin moved up on strong volume for a second straight session. The maker of global positioning system-based handheld devices rose 1.15 to 67.83 on volume nearly 80% higher than its average over the past 50 sessions.The stock is up 17% since breaking out of a nine-month cup-with-handle base in the week ended Sept. 2. The ideal buy point was 57.72.
On Thursday, Garmin announced it is now a tier-one OEM supplier with its modular GPS navigation system on the 2006 Honda Gold Wing motorcycle. This is the first time Garmin has provided a vehicle maker with a factory-installed navigation system. Garmin also makes products for pilots, fishermen and hikers. Earnings per share have risen for three straight years, and ...