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RealTime IT News

The Chips Are Up

Tech stocks finally joined the Dow 10,000 party on Thursday, led by a 4% surge in chip stocks.

There was plenty of good news to go around for the lagging semiconductor sector.

Jabil Circuit soared 9% after beating estimates, and Cypress Semi gained 5% after raising guidance.

Micron rose 5% on a positive DRAM forecast, while Intel climbed 2% on plans to enter the digital TV market.

The broader market soared on better than expected weekly jobless claims, leading economic indicators and manufacturing reports.

The Nasdaq surged 34 to 1956, the S&P 500 gained 12 to 1089, and the Dow rose 102 to 10,248. Volume rose to 1.56 billion shares on the NYSE, and 1.72 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 84% on the Nasdaq. New highs-new lows were 452-7 on the NYSE, and 131-17 on the Nasdaq.

After the close, RealNetworks announced an antitrust suit against Microsoft . Tektronix beat estimates, Red Hat , Paychex and Solectron matched estimates, and Manugistics beat on earnings but missed on revenues. ValueClick and Silicon Storage raised guidance.

During the day, University of Phoenix Online surged 6% after beating estimates.

palmOne plunged 22% on a warning.

Tibco and 3Com gained on better than expected results, but Cognos fell on its report.

EMC and Sun rose 3% each on rumors of a partnership.

United Online bolted 7% on positive analyst comments.

Activision soared 16% after raising guidance.

And Salesforce.com plans an IPO.

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