RealTime IT News

Stocks Rise On Volatile Day

Stocks fell sharply early Friday on a warning from Intel and a dismal unemployment report, but finished in the green on hopes for more rate cuts and reports that Osama bin Laden may soon be captured.

The UK, meanwhile, plans to introduce a UN resolution giving Iraq until March 17 to disarm.

The Nasdaq gained 2 to 1305, the S&P 500 rose 6 to 828, and the Dow climbed 66 to 7740. Volume rose to 1.36 billion shares on the NYSE, and 1.43 billion on the Nasdaq. Advancers led 17-14 on the NYSE, but decliners led 16-14 on the Nasdaq. Upside volume was 65% on the NYSE, but only 38% on the Nasdaq. New highs-new lows were 74-186 on the NYSE, and 51-115 on the Nasdaq.

Intel fell 4.1% after guiding estimates to the low end of the range.

TiVo fell 12% on its earnings report.

eBay gained 1.3% to a new 52-week high on news that it plans to close the Half.com site.

AOL rose 2.6% on news that it may sell off its CD unit to pay down debt.

3Com fell 8.7% on a warning.

IBM gained 1.1% despite a trade secrets lawsuit.

UTStarcom lost 7% on a convertible offering.

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