RealTime IT News

Techs Gain On Earnings Optimism

Upbeat earnings pronouncements from EMC and others boosted tech stocks on Tuesday.

The Nasdaq gained 10 to 1431, the S&P 500 slipped 6 to 922, and the Dow lost 32 to 8740. Volume rose to 1.55 billion shares on the NYSE, and 1.75 billion on the Nasdaq. Decliners led 20 to 13 on the NYSE, and 17-15 on the Nasdaq. Downside volume was 57% on the NYSE, and 35% on the Nasdaq. New highs-new lows were 101-10 on the NYSE, and 97-35 on the Nasdaq.

After the close, Gateway and Pomeroy Computer warned.

During the day, tech stocks got a boost on upbeat earnings news from EMC , Mercury Interactive and webMethods . The three surged 10-15% on the news.

Oracle gained 6% after the company said it may consider paying a dividend if the dividend tax is repealed. The company also said it sees a modest increase in IT spending this year.

Yahoo , which reports earnings next week, tacked on 1% on an upbeat conference presentation.

Sanmina and Solectron rose 9-10% on outsourcing deals with IBM . IBM and Cisco , which both gained just under 3%, strengthened their storage networking ties.

Rambus gained 2% on deals with Sony and Toshiba.

SGI , up 9%, unveiled Linux super servers.

Macromedia rose 6% on sweeping product changes.

RealNetworks slipped 1% on pressure from Microsoft , which climbed 1.9% on the day.

Apple was down fractionally as Macworld got underway.

Forgent gained 18% after selling its video conferencing unit.

Rudolph Technologies fell 11% on concern about competition from KLA-Tecnor .

Powerwave lost 8% on a warning.

RSA gained 7% on a Raymond James upgrade.

Extreme gained 14% despite missing revenue estimates.

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