RealTime IT News

A Big Day for Intel

Intel was the focus of the IT world on Monday.

First, the chip giant unveiled new Itanium and Xeon chips - and no less than a half-dozen companies announced new products for them.

And Salomon Smith Barney upgraded Intel's stock to Outperform while remaining lukewarm on the chip sector in general. SSB said it thinks Intel will meet estimates when it reports in two weeks, but that many other chip companies could disappoint.

As if to drive the point home, SSB raised its risk rating on Texas Instruments to high.

Intel gained 1.2%, while TI fell 2.3%.

Stocks slipped Monday on a weaker than expected national manufacturing survey. Trading was volatile on index rebalancing.

The Nasdaq lost 2 to 1622, the S&P 500 declined 1 to 974, and the Dow slipped 3 to 8985. Volume rose to 1.56 billion shares on the NYSE, and 2.1 billion on the Nasdaq. Advancers led 17-15 on the NYSE, but decliners led 16-15 on the Nasdaq. Downside volume was 50% on the NYSE, and 49% on the Nasdaq. New highs-new lows were 133-7 on the NYSE, and 164-15 on the Nasdaq.

RealNetworks surged 6.6% on a wireless deal with Vodafone.

Sina.com soared 15% after raising guidance.

McData , up 3.4%, is gaining traction in the storage switch space.

EDS was unchanged on mixed guidance.

As expected, the Justice Department asked for more information on Oracle's bid for PeopleSoft .

Veritas rose 1% after closing its acquisition of Precise Software.

Nextel slipped 2.3% on legal troubles with Verizon .

Priceline rose 3% on an acquisition.

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