RealTime IT News

Stocks Rise Modestly Ahead Of Key Earnings

Stocks posted modest gains Monday, as traders awaited key earnings reports later this week.

The ISDEX added 7 to 655, but the Nasdaq slipped 26 to 3290 on weakness in Intel and Microsoft. The S&P 500 was unchanged at 1374, and the Dow added 46 to 10,238. Volume declined to 1 billion shares on the NYSE and 1.78 billion on the Nasdaq. Decliners led by 14 to 13 on the NYSE and 20 to 19 on the Nasdaq. There are a lot of big earnings reports this week, including Intel and IBM tomorrow, and Microsoft and Sun Microsystems on Wednesday. The Consumer Price Index Wednesday is the big economic report for the week. For earnings reports, visit our earnings calendar and reported earnings. For after hours quotes and news, visit our after hours trading site.

B2B leaders were strong heading into earnings reports. Ariba , which reports Wednesday, bolted 10 11/16 to 132 3/8, Commerce One , which reports Thursday, gained 5 1/2 to 68 5/16, and i2 Technologies , which reports tomorrow, added 2 1/16 to 184 1/16. PurchasePro , which also reports tomorrow, soared 10 1/8 to 45 3/16 after Prudential called the company its Single Best Idea, following a 6-point gain on Lehman Brothers comments on Friday.

Interwoven , up 12 3/16 to 104 13/16, also rose ahead of its earnings tomorrow. Akamai , which reports on Wednesday, rose 4 to 53 on a CIBC World Markets Strong Buy rating and $100 price target.

About.com climbed 5/16 to 20 1/16 after the company pre-announced better-than-expected results.

eBay surged 4 to 59 7/8 after trading as low as 52 1/4 on reports of a lawsuit against the company for the sale of fake sports memorabilia, raising concern that the company may need to verify the authenticity of items sold on its site.

Juniper Networks , up 15 3/8 to 243 7/8, continued to rise after a blow-out earnings report Thursday. Corning added 7 7/8 to 100 3/4, continuing to gain on a positive earnings pre-announcement. RSA Security , up 1 11/16 to 53 5/8, also continued to gain in the wake of better than expected earnings.

Digital Island rose 1 1/16 to 15 5/16 on an alliance with Microsoft .

Internet consultants continued to rebound, led by Sapient , up 6 1/2 to 41 5/8, Scient , up 3 to 19 1/2, and Razorfish , which gained 3/8 to 5 3/8. A Barron's article said bargain hunters have descended on the space.

Inktomi regained 2 7/8 to 85 1/8, turning back at 92 3/8. As we've said, if the company's breakdown out of a descending triangle was for real, it should have a hard time getting back above $90, and could still have significant downside ahead. The company reports earnings Oct. 26.

Some technical comments on the market: Note: We are now including charts with the technic