RealTime IT News

Amazon, Apple Amaze

Amazon.com shares soared nearly 25% Wednesday after the company posted blowout quarterly results, helping stocks recoup some of Tuesday's losses on fears of a credit market meltdown.

Apple fared well after the close, gaining 8% after the company blew past earnings estimates but issued disappointing guidance and iPhone sales figures.

Apple's earnings of 92 cents a share were a whopping 20 cents better than expected, and sales were up 24% to $5.41 billion, topping $5.29 billion estimates, helped by strong Mac sales. But iPhone shipments of 270,000 were less than analysts were hoping for, and current quarter guidance of 65-cent earnings and $5.7 billion in revenues were below expectations.

Also after the close, Baidu soared 18% on its results.

Boeing's results also boosted stocks in Wednesday's trading session, but slowdown fears and housing market woes limited gains.

RF Micro , Anadigics and Plantronics were other earnings winners, but Corning lost 6% on its results.

BladeLogic had a stellar IPO, soaring 47%.

The Nasdaq rose 8 to 2648, the S&P 500 added 7 to 1518, and the Dow rose 68 to 13,785. Volume rose to 4.28 billion shares on the NYSE, and 2.6 billion on the Nasdaq. Advancing issues led by a 19-12 margin on the NYSE, and 16-13 on the Nasdaq. Upside volume was 43% on the NYSE, and 54% on the Nasdaq. New highs-new lows were 51-411 on the NYSE, and 85-257 on the Nasdaq.