RealTime IT News

Upgrades Boost Techs

Amazon , Apple and Gateway got a boost from analyst upgrades on Tuesday.

Shares of Amazon climbed 3.6% after long-time booster Legg Mason upgraded the stock to buy from hold on expectations that the online retailing giant's margins will improve in the coming months. Amazon will report quarterly results on July 26.

Apple, meanwhile, gained 4% after First Albany said it sees the company gaining from iPod sales and its Tiger operating system. Apple will report its results on July 13.

Gateway surged 6.7% on positive comments from Piper Jaffray and a major supplier deal with the state of California. Gateway will report its second-quarter results on July 28.

The broader market posted solid gains on bullish guidance from Wal-Mart and strong factory orders.

The Nasdaq rose 21 to 2078, the S&P gained 10 to 1204, and the Dow rose 68 to 10,371. Volume rose to 1.81 billion shares on the NYSE, and 1.45 billion on the Nasdaq. Advancers led 21-11 on the NYSE, and 20-10 on the Nasdaq. Upside volume was 69% on the NYSE, and 70% on the Nasdaq. New highs-new lows were 353-35 on the NYSE, and 159-42 on the Nasdaq.

Symantec climbed 3% after the company completed its acquisition of Veritas.

Aspect rose 2% on news that the company will be acquired by privately-held Concerto Software.