Stocks of PG&E Corporation (PCG) were up in early trading Thursday morning by more than eight tenths of a percent. Not far behind were local gadget giant Apple Inc. (AAPL), up roughly three quarters of a percent, and KLA-Tencor Corporation (KLAC) also up nearly a third of a percent.
The usual band of heavy-hitters were trading at the highest volume Thursday morning, with 4.65 million shares of Cisco Systems, Inc. (CSCO) trading hands. Apple Inc. and Intel Corporation (INTC) were not far behind, trading 4.62 million and 3.54 million shares, respectively.
Overall, the Dow Jones Industrial Average had been, for the most part, trending downward since the start of business Thursday morning. Though it was down approximately half a percent, it was trending upward again as the morning progressed.
In other stock news, PG&E Corporation announced Thursday it would acquire more than a quarter stake in natural gas provider El Paso Corp. in a $2 billion natural gas pipeline project. Also, a stock analyst has lowered revenue estimates for Yahoo Inc. (YHOO) on a pending deal with AT&T Inc. (ATT), in which the Internet giant would become the default search engine for AT&T wireless users.