Wintel Duo Tops Estimates
The Nasdaq added 6 to 1391, the S&P 500 rose 5 to 890, and the Dow climbed 51 to 8402. Volume rose to 1.4 billion shares on the NYSE, and 1.28 billion on the Nasdaq. Advancers led 21-11 on the NYSE, and 17-13 on the Nasdaq. Upside volume was 67% on the NYSE, and 59% on the Nasdaq. New highs-new lows were 114-15 on the NYSE, and 113-34 on the Nasdaq.
After the close, Microsoft and Intel beat earnings and revenue estimates. Both companies gave mixed guidance, but rose more than 4% each after hours. Texas Instruments also beat estimates and offered mixed guidance. Seagate and DoubleClick beat estimates, E*Trade and Motorola matched estimates, and Photon and CDW missed estimates.
During the day, IBM rose 3.4% after missing earnings estimates but beating revenue estimates and reaffirming full-year guidance. IBM declined to reaffirm second-quarter guidance, but cautioned analysts not to "read too much into this."
Novellus and Rambus fell on mixed results.
Microsoft lost ground during the day despite a favorable court ruling.
AOL slipped 0.5% after stepping up its war on spammers.
RSA rose 3% after releasing its "Internet Insecurity Index."
Sun and Symantec climbed higher on a security alliance.
Motorola slipped 0.5% on another acquisition.
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