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RealTime IT News

Amazon Beats Estimates, Raises Guidance

Amazon.com beat estimates and raised guidance after the bell on Tuesday.

Amazon's pro forma earnings of 10 cents a share blew past analysts' 6-cent estimates, and revenues of $1.1 billion topped $1.02 billion estimates. The company also raised third-quarter and full-year estimates. Amazon stock climbed 5% after hours.

Also after the close, Sun missed earnings and revenue estimates, while Broadcom , DoubleClick , AskJeeves and StorageTek beat earnings and revenue estimates. Websense matched estimates.

Better than expected results from the likes of Texas Instruments and Corning sent tech stocks higher during the day, and blue chips gained on news that Saddam Hussein's sons had been killed in a raid.

The Nasdaq surged 24 to 1706, the S&P 500 rose 9 to 988, and the Dow climbed 61 to 9158. Volume rose to 1.44 billion shares on the NYSE, and 1.75 billion on the Nasdaq. Advancers led 18-13 on the NYSE, and 20-10 on the Nasdaq. Upside volume was 74% on the NYSE, and 71% on the Nasdaq. New highs-new lows were 73-30 on the NYSE, and 123-7 on the Nasdaq.

Lucent surged 11% on a $1 billion contract with Sprint that raised hopes of a rebound in capital spending.

Ameritrade , Tellabs and JDA Software soared on better than expected results.

Novellus gained 6% despite warning, sending chip stocks higher.

FindWhat.com and J2 Global Communications also beat estimates, but lagged on valuation concerns. EarthLink edged higher on its report.

Interdigital Communications plunged on news that it is facing patent arbitration with Nokia .

AOL rose ahead of its earnings report tomorrow morning.

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