RealTime IT News

RIM, Oracle Lead as Tech Stocks Rally

Research in Motion (NASDAQ: RIMM) and Oracle (NASDAQ: ORCL) soared Friday after reporting strong quarterly results, while the rest of the Nasdaq went along for the ride.

RIM soared 10 percent after reporting 40 percent sales growth, while Oracle's unexpected revenue growth gave its shares a 6 percent boost.

But Palm (NASDAQ: PALM) tumbled 13 percent after the company reported a wider than expected loss, and Accenture (NYSE: ACN) slipped after missing revenue estimates.

Microsoft (NASDAQ: MSFT) and Intel (NASDAQ: INTC) posted strong gains, while EMC (NYSE: EMC) gained at NetApp's (NASDAQ: NTAP) expense.

Take-Two (NASDAQ: TTWO) was another winner, up 9 percent after news of a Carl Icahn stake raised takeover speculation.

Smart Modular (NASDAQ: SMOD) soared 24 percent after reporting better than expected results and guidance.

The Nasdaq rose 31 to 2211, the S&P 500 gained 6 to 1102, and the Dow rose 20 to 10,328. Volume declined to 6.33 billion shares on the NYSE, and rose to 3.19 billion on the Nasdaq. Advancers led by a 21-16 margin on the NYSE, and 16-11 on the Nasdaq. Upside volume was 74 percent on the NYSE, and 76 percent on the Nasdaq. New highs-new lows were 223-36 on the NYSE, and 107-42 on the Nasdaq.