RIM, Oracle Lead as Tech Stocks Rally
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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.
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.