RealTime IT News

Bulls Storm Back

It didn't take much for the bulls to come storming back on Thursday, just some in-line retail sales and jobless claims and rumors of a large move from bonds into stocks.

The one negative on the day - an unexpectedly negative UN assessment of Iraq's compliance with the disarmament resolution - was largely ignored.

The Nasdaq gained 37 to 1438, the S&P 500 climbed 17 to 927, and the Dow surged 180 to 8776. Volume rose to 1.51 billion shares on the NYSE, and 1.69 billion on the Nasdaq. Advancers led 23-9 on the NYSE, and 23-9 on the Nasdaq. Upside volume was 85% on the NYSE, and 87% on the Nasdaq. New highs-new lows were 134-11 on the NYSE, and 104-27 on the Nasdaq.

After the close, Lexmark warned and Seagate reported its first post-IPO earnings.

During the day, Foundry surged 15.7% after raising guidance.

AOL rose 3.2% despite yet another charge against earnings. The company is also considering spinning off its cable holdings.

Veeco and FEI both surged after scrapping merger plans.

AMD rose 3.3% on an alliance with IBM . Big Blue, which also rose 3.3%, unveiled a supercomputing on demand initiative.

Microsoft rose 2.9% as Chairman Bill Gates called the 2000s the "digital decade". Paul Allen's Charter Communications , meanwhile, soared 31% on a deal with Microsoft.

HP , up 5%, unveiled several products aimed at home and mobile users.

Hotels.com recouped 3.8% on an optimistic assessment of online room bookings.

3Com , up 3.6%, sued rival D-Link.

MRV surged 22% after raising estimates. Compuware fell 7.9% on a warning.

Dell lagged on multiple unconfirmed rumors, and Sandisk fell 9.2% on heavy volume.

E*Trade , up 2.6%, launched real-time fund transfers.

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