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RealTime IT News

Stocks Extend Gains

Stocks began the month of February on an up note, posting modest gains on positive construction and manufacturing reports.

The Nasdaq gained 2 to 1323, the S&P 500 rose 4 to 860, and the Dow climbed 56 to 8109. Volume fell to 1.21 billion shares on the NYSE, and 1.26 billion on the Nasdaq. Advancers led 17-15 on the NYSE, but decliners led 17-14 on the Nasdaq. Upside volume was 56% on the NYSE, and 52% on the Nasdaq. New highs-new lows were 74-39 on the NYSE, and 60-67 on the Nasdaq.

After the close, HP and Solectron announced a $1.4 billion deal. During the day, Cisco gained 0.9% ahead of the company's earnings report on Tuesday.

Ericsson fell 10% on a warning.

Conexant gained 11.6% after selling NetPlane Systems to Motorola .

BellSouth gained 4.5% after it tried to block the move of vice chairman Gary Forsee to Sprint . Westell surged 26% on a deal with BellSouth.

24/7 Real Media gained 3.9% after selling its stake in iPromotions and changing its auditor.

EMC , off 0.5%, unveiled a new line of Symmetrix storage servers. BEA gained 3% on new servers and other offerings.

HP , up 0.4%, announced a WiFi partnership.

AOL , off 0.9%, won support from IBM for its Enterprise AIM Gateway.

Amazon , up 1.3%, remains the Internet's biggest advertiser.

Rambus , off 7.6%, finally took a break after last week's 100% gain.

Key3Media fell 61% after saying it would file for bankruptcy.

The IT industry got a shock when 20-year-old AVCOM announced it was ceasing operations.

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