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RealTime IT News

Accenture, DoubleClick Buck The Downtrend

The Nasdaq finished the first week of 2005 still looking for its first gain, but Accenture and DoubleClick bucked the downtrend on strong earnings news.

Accenture gained almost 5% after the company reported quarterly earnings of 32 cents a share, a penny ahead of estimates. Revenues rose 14% to $4.07 billion, well above forecasts.

Shares of DoubleClick jumped 8% after the company said it expects fourth-quarter earnings of 7-8 cents a share, more than double the 3 cents analysts were expecting. Revenues of $81-82 million also exceeded expectations. The company cited strong sales in its ad management, search, affiliate and email businesses.

The rest of the market finished slightly lower Friday on a government report that showed that job and wage growth in December were weaker than expected.

The Nasdaq lost 1 to 2088, the S&P 500 slipped 1 to 1186, and the Dow lost 18 to 10,603. Volume declined to 1.48 billion shares on the NYSE, and was unchanged at 2.2 billion on the Nasdaq. Decliners led 19-14 on the NYSE, and 18-11 on the Nasdaq. Downside volume was 63% on the NYSE, and 49% on the Nasdaq. New highs-new lows were 58-14 on the NYSE, and 54-26 on the Nasdaq.

UTStarcom plunged 20% on a warning.

Brocade fell 7.5% after the company said it will restate past results to include additional stock-based compensation.

ScanSource and SimpleTech rose after raising guidance.

TiVo sank 14% on competition from DirecTV .