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RealTime IT News

eBay Keeps Techs On A Roll

eBay became the latest tech giant to deliver better than expected results after the close on Wednesday.

eBay's earnings of 31 cents a share beat estimates by a nickel, and revenues of $746.2 million bested $716.2 million forecasts. The company also raised its full-year outlook. Shares of eBay gained two points after hours.

Also after the close, Qualcomm rose after beating estimates and raising guidance, but Juniper Networks and KLA-Tencor fell on their reports.

Tech stocks rose during the day on blowout results from Motorola , which soared 19%. The broader market edged higher after Fed Chairman Alan Greenspan's comments to Congress were interpreted as more market-friendly than those he made on Tuesday.

The Nasdaq gained 17 to 1995, the S&P 500 rose 5 to 1124, and the Dow added 2 to 10,317. Volume rose to 1.72 billion shares on the NYSE, and 2.08 billion on the Nasdaq. Decliners led 17-15 on the NYSE, but advancers led 18-13 on the Nasdaq. Upside volume was 63% on the NYSE, and 67% on the Nasdaq. New highs-new lows were 56-155 on the NYSE, and 79-45 on the Nasdaq.

Tellabs , Sanmina , Applied Micro and CheckFree rose on their results.

WebEx , Internet Security , AskJeeves , StorageTek , Cymer and Seagate fell on their earnings reports.

CA rose 4% as the company's accounting troubles claimed CEO Sanjay Kumar.

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