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RealTime IT News

Investors Cautious Ahead Of UN Meeting

Stocks posted only modest gains Friday despite better than expected consumer confidence and economic reports, as traders turned their focus to a UN Security Council meeting on Saturday.

The Nasdaq rose 13 to 1337, the S&P 500 gained 3 to 841, and the Dow added 6 to 7891. Volume rose to 1.3 billion shares on the NYSE, and 1.34 billion on the Nasdaq. Advancers led 19-12 on the NYSE, and 16-15 on the Nasdaq. Upside volume was 63% on the NYSE, and 74% on the Nasdaq. New highs-new lows were 73-42 on the NYSE, and 80-68 on the Nasdaq.

Symantec plunged 14.6% on a warning. Partner Digital River dropped 10% on the news.

Palm lost 11.2% on news of job cuts.

AOL rose 5.4% on news of a new CFO.

Intel gained 3.6% after Lehman Brothers raised estimates.

Novellus slipped 0.9% after reiterating guidance. Marvell gained 5.6% after matching estimates and maintaining guidance. Novell fell 15.6% on its results.

Microtune fell 3.2% after filing antitrust claims against Broadcom , which gained 1.8%.

Microsoft , up 0.5%, said it will allow the Chinese government access to Windows source code. The company also plans to tweak its licensing program.

IBM , up 0.9%, won an outsourcing contract.

Motorola rose 1.7% on news that its takeover bid of Next Level can proceed.

Yahoo rose 3.8% to a new 52-week high.

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