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RealTime IT News

P&G, McDonald's Boost Blue Chips

Better than expected results from Dow components Procter & Gamble and McDonald's sent stocks to strong gains on Monday.

The Nasdaq gained 27 to 1462, the S&P 500 rose 16 to 914, and the Dow surged 165 to 8471. Volume declined to 1.27 billion shares on the NYSE, and 1.46 billion on the Nasdaq. Advancers led 24-8 on the NYSE, and 21-10 on the Nasdaq. Upside volume was 86% on the NYSE, and 80% on the Nasdaq. New highs-new lows were 156-21 on the NYSE, and 146-29 on the Nasdaq.

After the close, Intuit , FreeMarkets , Macrovision and Altera beat estimates. Overstock.com missed estimates.

During the day, Microsoft , AOL and Yahoo rose on a joint effort to fight spam.

Cisco surged 4.5% on wireless IP phone plans, and Net2Phone rose on its VoIP offering.

Apple climbed 3.8% on a new music downloading service.

Digital River soared 15% after winning an outsourcing deal from Palm .

Chip stocks, meanwhile, climbed on strong March sales data. Intel climbed 2.6%.

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