RealTime IT News

Chip Stocks Rise, But Not Much Else

Intel's better than expected earnings gave chip stocks strong gains on Wednesday, but blue chips fell sharply on earnings concerns.

The Nasdaq added 3 to 1394, the S&P 500 lost 10 to 879, and the Dow plunged 144 to 8257. Volume rose to 1.56 billion shares on the NYSE, and 1.52 billion on the Nasdaq. Decliners led 17-14 on the NYSE, and 16-13 on the Nasdaq. Downside volume was 67% on the NYSE, and 40% on the Nasdaq. New highs-new lows were 127-26 on the NYSE, and 107-30 on the Nasdaq.

After the close, Sun missed revenue estimates, as did Mercury Interactive . AMD , Apple , Broadcom , UTStarcom , Lam Research and SanDisk topped estimates.

During the day, Microsoft gained 1.2% after beating earnings and revenue estimates, but giving mixed guidance. The stock finished well off its highs for the day.

Intel fared better, surging 6% after beating estimates, and Texas Instruments soared 10% on its results.

EMC also joined in the party, climbing 8% after beating estimates.

DoubleClick climbed 1.8% after beating estimates, and Digital River rose fractionally on its report.

Seagate , E*Trade and CDW gained on their reports, while Motorola and Photon fell on theirs.

Yahoo slipped 0.5% on the departure of former CEO Tim Koogle from the company's board of directors.

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