Dow up 139
on strong profits

NEW YORK -- Stocks rallied today as last week's profit jitters were quickly put to rest by some strong reports from IBM, Microsoft, Citicorp and Chase Manhattan.

The Dow Jones industrial average rose 139.00 to 8,060.44. Combined with yesterday's 74-point gain, that was more than enough to wipe out last week's 200-point decline.

Advancers outnumbered decliners by more than a 2-to-1 margin on the New York Stock Exchange, with 1,947 up, 920 down and 546 unchanged. NYSE volume was 581.77 million shares vs. 482.95 million yesterday.

The Standard & Poor's 500-stock list rose 16.67 to 972.28, and the NYSE composite index rose 7.93 to 510.19.

The Nasdaq composite index rose 27.09 to 1,712.54, and the American Stock Exchange composite index rose 5.78 to 712.36.

The Russell 2000 index of smaller companies rose 5.08 to 458.93.

Late yesterday's better-than-expected profit reports by IBM and Microsoft quickly counteracted last week's earnings disappointments by big-name technology issues such as Intel, Seagate Technology and Sun Microsystems.

IBM -- which rose the equivalent of 28-1/2 Dow points -- reported a nearly 6 percent increase in profits for the July-September quarter, edging analyst forecasts. Likewise, Microsoft reported that its profits rose about 8 percent for the period, also surpassing expectations by a small margin.

Also enhancing the mood were some healthy third-quarter showings by Chase Manhattan and Citicorp.