RealTime IT News

Stocks Gain in Midday Trade

Falling energy prices, rising consumer sentiment and hopes for a strong start to the holiday shopping season sent stocks higher in midday trade on Wednesday.

At noon Eastern Time, the Nasdaq was up 8 to 2261, the S&P 500 climbed 4 to 1265, and the Dow rose 38 to 10,909. Volume was steady in pre-holiday trading, with 950 million shares changing hands on the NYSE and 800 million on the Nasdaq, and breadth on both exchanges was positive.

Research in Motion was the big story of the day, falling 4% on product delays and lower subscriber forecasts. The company also faces the threat of a shutdown in the U.S. as its long-running patent dispute with NTP draws to a close.

Wind River slipped 2% despite beating estimates and issuing solid guidance, while Opsware slumped 6% on in-line results and guidance.

WebEx lost 4% on a Lehman Brothers downgrade.

Note: The Technical Analysis column will return Nov. 28.