RealTime IT News

Market Climbs As War Begins

Traders bought an early sell-off on Thursday on hopes that war with Iraq will be quick.

The Nasdaq gained 5 to 1402, the S&P 500 climbed 1 to 875, and the Dow rose 21 to 8286. Volume rose to 1.44 billion shares on the NYSE, but declined to 1.58 billion on the Nasdaq. Advancers led 18-13 on the NYSE, and 17-14 on the Nasdaq. Upside volume was 60% on the NYSE, and 61% on the Nasdaq. New highs-new lows were 51-19 on the NYSE, and 59-45 on the Nasdaq.

After the close, Intuit warned. Micron and Palm missed earnings estimates but topped revenue estimates. Solectron missed revenue estimates and warned. TIBCO topped estimates, and Paychex matched estimates. EDS announced changes at the top.

During the day, Cisco slipped 1.3% on news that it plans to enter the home networking market via the acquisition of Linksys.

Overture gained 5.7% on takeover speculation.

3Com rose 3.1% after beating revenue estimates, and Jabil surged 7% after matching estimates.

Microsoft , down 0.3%, said mobility will be its fastest-growing business.

Verizon , off 0.6%, is expanding DSL lines in preparation for its MSN product.

Dell , off 1.7%, expanded its recycling program.

Sun , up 2.2%, is cracking down on J2EE certification. Sun's XDR libraries were found to have a critical flaw.

Apple , off 0.3%, elected Al Gore to its board.

F5 lost 3.6% on legal maneuvering.

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