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RealTime IT News

Wireless Outlook Remains Mixed

The outlook for the wireless sector still looks mixed.

Nokia fell 6% Tuesday on the same day that Research in Motion soared 22% after raising estimates. Nokia raised estimates slightly, to the high end of estimates, but investors wanted evidence of a more robust recovery.

After the close, Texas Instruments added to the uncertainty when it lowered earnings guidance.

The broader market was weighed down during the day by weakness in the retail sector and a downgrade to Home Depot .

The Nasdaq fell 15 to 1873, the S&P 500 lost 8 to 1023, and the Dow fell 79 to 9507. Volume rose to 1.38 billion shares on the NYSE, and 2.23 billion on the Nasdaq. Decliners led 19-12 on the NYSE, and 18-13 on the Nasdaq. Downside volume was 75% on the NYSE, and 57% on the Nasdaq. New highs-new lows were 195-3 on the NYSE, and 305-3 on the Nasdaq.

RealNetworks surged on a deal with Sun , and iVillage soared on a content deal with MSN. Sun lost 3% on the departure of co-founder Bill Joy.

Yahoo slipped 1.6% after reaffirming guidance at a Merrill Lynch conference.

Cymer and Ulticom fell despite better than expected results.

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