RealTime IT News

Buying The Dip Returns

Buying the dip returned on Friday, as stocks managed to finish up despite the worst unemployment report in a year and North Korea's withdrawal from the Nuclear Nonproliferation Treaty.

The Nasdaq gained 9 to 1447, the S&P 500 was unchanged at 927, and the Dow tacked on 8 to 8784. Volume declined to 1.48 billion shares on the NYSE, and 1.66 billion on the Nasdaq. Advancers led 16-15 on the NYSE, and 17-14 on the Nasdaq. Upside volume was 57% on the NYSE, and 74% on the Nasdaq. New highs-new lows were 91-18 on the NYSE, and 82-22 on the Nasdaq.

Homestore surged 40% after settling a dispute with AOL , which gained 3.8%. AOL named a new branding executive.

AMD and Intel rose on positive analyst comments. Intel reports earnings on Tuesday, AMD on Thursday. Intel said its top priority for 2003 is the consumer wireless market.

Amdocs surged 13% on an outsourcing deal with SBC .

Lexmark fell 6% on a warning and Seagate lost 12% after reporting its first post-IPO earnings. Infosys fell 8.6% on its earnings report.

Dell continued to be the subject of negative rumors, falling 4% on the day.

Interwoven gained 15% on takeover rumors.

Kana surged 30% on an upgrade.

UTStarcom rose 2.3% on a $114 million order.

Handspring , up 1.7%, and Research In Motion may soon form a partnership.

OpenTV won a couple of rounds in its lawsuit against Liberate.

Coca-Cola , up 1.6%, is launching an interactive ad campaign.

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