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RealTime IT News

Stocks Shake Off Microsoft, Google

The stock market managed to post modest gains Friday despite 3% drops in the shares of Microsoft and Google .

Google and Microsoft posted strong results late Thursday, but investors sold shares of both Friday after the tech bellwethers offered cautious guidance for the current quarter.

Traders also shook off another attempted terrorist attack in London to send the indexes higher on the day.

The Nasdaq added 1 to 2179, the S&P gained 6 to 1233, and the Dow rose 23 to 10,651. Volume declined to 1.77 billion shares on the NYSE, and 1.71 billion on the Nasdaq. Advancers led 22-10 on the NYSE, and 19-11 on the Nasdaq. Upside volume was 67% on the NYSE, and 53% on the Nasdaq. New highs-new lows were 231-20 on the NYSE, and 144-14 on the Nasdaq.

Broadcom , SanDisk , Xilinx , Genesis Micro , Foundry , Silicon Labs and Marvell rose on their results.

Scientific Atlanta , Hutchinson , PMC-Sierra , RSA , Ariba , Vitesse , Packeteer , Intersil and Harmonic Lightwave fell on their quarterly reports.