RealTime IT News

Slow Growth Slows Stocks

More evidence of a slowing economy restrained blue chip stocks on Tuesday, but technology shares managed modest gains on earnings and upgrades.

Dell surged 4% on its second upgrade in two days, this one from UBS, which cited improving pricing.

InterActiveCorp rose 4% on an 11% gain in sales, and Rackable Systems , Agere and Intevac climbed on their results.

Qwest and Neoware fell on their earnings reports.

Comtech jumped 14% on a partnership with Microsoft .

After the close, Baidu fell after beating estimates but warning.

Weaker than expected consumer confidence and Midwest manufacturing reports weighed on the rest of the market Tuesday, sending the Dow to a modest loss.

The Nasdaq rose 3 to 2366, the S&P 500 was unchanged at 1378, and the Dow slipped 6 to 12,080. Volume rose to 2.72 billion shares on the NYSE, and 1.98 billion on the Nasdaq. Advancers led 16-15 on the NYSE, and decliners led 16-14 on the Nasdaq. Upside volume was 46% on the NYSE, and 56% on the Nasdaq. New highs-new lows were 218-24 on the NYSE, and 163-45 on the Nasdaq.