RealTime IT News

Apple Shines On Upgrade

Apple shares rose on an upgrade Wednesday, but the rest of the market barely budged.

Apple gained more than 3% after Morgan Stanley raised its price target on the stock to $110, saying that new products will continue to push the stock higher, and investors shook off fears of slowing iTunes sales that weighed the stock down on Tuesday.

But the broader market ended up just slightly after an early rally on strong retail sales data came unglued on rising oil prices.

Atmel jumped on a restructuring announcement.

IPG Photonics and Guidance Software surged in their debuts.

CPI climbed on its results.

The Nasdaq added 1 to 2432, the S&P 500 tacked on 1 to 1413, and the Dow climbed 2 to 12,317. Volume declined to 2.55 billion shares on the NYSE, and 1.87 billion on the Nasdaq. Advancers led 17-15 on the NYSE, but decliners led by a few shares on the Nasdaq. Upside volume was 51% on the NYSE, and 52% on the Nasdaq. New highs-new lows were 278-15 on the NYSE, and 106-46 on the Nasdaq.