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RealTime IT News

Stocks Soar On Hopes For Quick War

Stocks soared Friday on a BBC report that Iraqi leader Saddam Hussein may have been killed in the initial U.S. air attack, sending the Dow to its best week since October 1982.

The Nasdaq gained 19 to 1421, the S&P 500 surged 19 to 895, and the Dow soared 235 to 8521. Volume rose to 1.8 billion shares on the NYSE, and 1.88 billion on the Nasdaq. Advancers led 22-10 on the NYSE, and 20-11 on the Nasdaq. Upside volume was 79% on the NYSE, and 64% on the Nasdaq. New highs-new lows were 81-30 on the NYSE, and 95-38 on the Nasdaq.

Intuit plunged 24% on a warning, dragging software stocks lower.

Micron rose 11% on better than expected results, and Paychex gained 7% after matching estimates.

Cisco fell 1% on concern about its Linksys acquisition.

Microtune soared 44% after winning a round against Broadcom .

EDS bolted 12% on changes at the top.

Solectron climbed 2.4% despite warning and announcing layoffs.

Palm fell 4% after delaying the PalmSource spinoff.

ATI Technologies surged 18% after beating estimates. TIBCO slipped 1.1% on a downgrade.

SonicBlue plunged 74% after filing for bankruptcy.

Finally, a Deutsche Bank survey showed hardware spending may be weaker than thought.

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