RealTime IT News

eBay, Ma Bell Boost Stocks

Better than expected results from eBay and AT&T continued the market's run on Wednesday.

The Nasdaq rose 14 to 1466, the S&P 500 gained 7 to 919, and the Dow rose 30 to 8515. Volume declined to 1.61 billion shares on the NYSE, and rose to 1.82 billion on the Nasdaq. Advancers led 20-12 on the NYSE, and 19-11 on the Nasdaq. Upside volume was 68% on the NYSE, and 67% on the Nasdaq. New highs-new lows were 194-18 on the NYSE, and 162-24 on the Nasdaq.

After the close, Qualcomm , Digital River , Intersil , eResearch and Micromuse rose on better than expected results. Symantec , Overture , Veritas , Microchip , Siebel and KLA-Tencor declined on disappointing earnings.

During the day, eBay surged 5.7% to a new 52-week high on better than expected earnings and guidance, and AT&T soared 23% after beating estimates.

AOL gained 5% on better than expected results, while Ask Jeeves fell 9% despite topping estimates.

CheckFree , WebSense and StorageTek surged on their earnings reports.

Microsoft slipped 2 cents ahead of the release of Windows Server 2003.

Motorola climbed 3.7% on a 3G venture.

webMethods rose 4.5% as it neared Jboss integration.

Amazon slipped on children's privacy concerns.

Cymer gained on its earnings report, while PeopleSoft , Corning , Advanced Fibre and Hutchinson fell on their reports.

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