RealTime IT News

Tech Stocks Surge Higher

Technology stocks continued to outperform Thursday on better than expected results from Broadcom and Nokia, and blue chips gained on a manufacturing report that wasn't as bad as feared.

The Nasdaq surged 30 to 1425, the S&P 500 rose 13 to 893, and the Dow climbed 80 to 8337. Volume declined to 1.38 billion shares on the NYSE, but rose to 1.6 billion on the Nasdaq. Advancers led 24-8 on the NYSE, and 20-9 on the Nasdaq. Upside volume was 84% on the NYSE, and 80% on the Nasdaq. New highs-new lows were 109-20 on the NYSE, and 97-26 on the Nasdaq.

After the close, Internet Security , Netflix , Gateway , PMC-Sierra , Scientific Atlanta and Xilinx beat estimates. WebEx came in light on revenues and guided slightly lower.

During the day, Nokia rose 6.6% after beating estimates, and Broadcom soared 16% on its results.

SAP surged 7.6% on its earnings report.

UTStarcom , Lam Research and SanDisk soared on their results, and Mercury Interactive and AMD gained on their reports.

Sun slipped after missing revenue estimates, and Apple traded lower on its earnings.

Microsoft climbed 2.4% despite a serious windows flaw.

Cisco gained 2.9% after boosting its Channel Partner Program, which makes up 90% of the company's business.

FindWhat surged 11% after raising its minimum bid price.

Synopsis gained 2.8% on an acquisition.

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