IBM, RF Micro Put Techs Back On Track
An upgrade to IBM
CS First Boston said IBM is the ideal late-cycle recovery play because of its slower-moving commercial customers. CSFB said it believes large commercial accounts will soon begin to boost tech spending, benefiting IBM.
RF Micro soared 15% after raising guidance. The company's outlook gave investors hope that Nokia's
The broader market also got a boost from an ABC News report that U.S. troops were closing in on Osama bin Laden in Pakistan. However, a Newsweek article from this week's issue said he was likely still in Afghanistan.
After the close, Research In Motion
During the day, Novell
Palm
InfoSpace
LCC International
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and bullish comments by RF Micro Devices
helped the market resume its winning ways on Monday.
mid-quarter update tomorrow morning will be a positive one. Nokia rose 3% on the day, and IBM gained 2.6% to close just below the important $90 level.
soared after raising guidance. Cymer
also boosted guidance, and Ulticom
beat estimates.
gained 7% on its cross-platform plans.
, up 7%, overhauled its software.
rose 7% on a site relaunch.
fell 8% on a follow-on offering.