dcsimg
RealTime IT News

Nortel Scores A Big Win

Nortel moved to the front of the VoIP pack Wednesday with a huge win.

NT stock soared 19% on news of a multi-year Voice Over Internet Protocol deal with Verizon .

Sonus fell 10% on news of the competitive loss to Nortel, but Lucent rallied 7% on a CDMA win in Brazil despite comments from Merrill Lynch that the Nortel-Verizon deal was a big loss for Lucent.

And Avici soared 23% on rumors of a partnership with Nortel.

The broader market was mixed once again on Wednesday, with tech stocks gaining while blue chips sagged.

The Nasdaq rose 20 to 2077, the S&P 500 added 2 to 1126, and the Dow slipped 9 to 10,529. Volume rose to 1.7 billion shares on the NYSE, and 2.3 billion on the Nasdaq. Advancers led 17-15 on the NYSE, and 18-13 on the Nasdaq. Upside volume was 57% on the NYSE, and 57% on the Nasdaq. New highs-new lows were 352-3 on the NYSE, and 307-5 on the Nasdaq.

After the close, Research In Motion fell on news of a secondary offering.

During the day, JDA Software plunged 16% on a warning.

Intel gained 3% on an upgrade from Bernstein, which said the chip giant could put in a stronger than expected first half. Intel also announced plans to invest in home digital technologies.

Nokia added 3% on a JP Morgan upgrade.

Advent Software surged 12% after raising guidance.

Infineon rose 5% on plans to enter the flash memory market, while SanDisk climbed 5% on positive analyst comments.

Covad gained 5% on strong broadband demand.

And Veritas edged higher on an acquisition.

Market Commentary: For our free daily market commentary and technical analysis, please visit the InternetStockReport.com home page at:

http://www.InternetStockReport.com.