RealTime IT News

Micromuse Down, Symbol up on Accounting Probes

The Nasdaq index stayed in above-2000 territory Tuesday, a subdued trading day as the New Year's holiday approached.

The index finished the day at 2009.88, up 3.40, following its close on Monday at 2006.38, the first time it had crossed the 2000 mark since January, 2002. The Dow Jones Industrial Average gave back some of its gains from Monday to close down 24.96 points at 10,425.04. The S&P 500 index rose 16 points to end the session at 1109.64

Shares of software company Micromuse tumbled over 12 percent earlier in the day after the company announced it would restate four years of financials and postpone filing its 2003 annual report over accounting questions. The shares later recovered to close down about 1 percent at $6.83 on reassuring words from Wall Street analysts.

Elsewhere in the tech sector, shares of Symbol Technologies were up 38 cents on the day to close at $17.23, after the CEO stepped down as part of the wireless bar coding company's plan to put a federal accounting probe behind it.

Microsoft had another up day, adding 6 cents Tuesday to close at $27.52.

Sirius Satellite and its sole competitor, XM Radio, both rose. The two pricey start-ups offer ad-free, fee-based radio-by-satellite. Sirius ended yet another day among Nasdaq's most active at $3.05, up 47 cents or 7 percent. XM Radio, which has more subscribers, also closed up at $26.72, up 56 cents or just over 2 percent.