RealTime IT News

Bulls Bounce Back

Stocks rose Tuesday as allied troops had no major setbacks in Iraq, but they pared their gains after the Senate cut President Bush's tax cut in half.

The Nasdaq rose 21 to 1391, the S&P 500 climbed 10 to 874, and the Dow gained 65 to 8280. Volume rose to 1.32 billion shares on the NYSE, and 1.42 billion on the Nasdaq. Advancers led 23-9 on the NYSE, and 20-10 on the Nasdaq. Upside volume was 83% on the NYSE, and 83% on the Nasdaq. New highs-new lows were 40-28 on the NYSE, and 56-33 on the Nasdaq.

After the close, Red Hat missed estimates.

During the day, Symantec gained 4% on news that it will be added to the S&P 500 on Friday.

Qwest rose 3.8% on a Department of Energy contract.

Intel , up 1.2%, won a patent for technology that stops overclocking.

IBM rose 1.5% on a CRM initiative.

University of Phoenix Online tacked on 0.1% on better than expected results and guidance.

Foundry surged 7% on positive analyst comments.

Microsoft , up 0.8%, pulled out of a Web services standards group.

HP , off 0.2%, hopes to enable 3D Web browsing.

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