Check Point, Big Blue Lead Market Higher
Stocks rose on Thursday, buoyed by strong earnings from Check Point Software and IBM. But Net stocks were weak on an earnings warning from Vignette.
The ISDEX http://www.wsrn.com/apps/ISDEX/
Traders awaited a slew of earnings after the close from the likes of Microsoft
Check Point
i2 Technologies
Travelocity.com
Vignette
Other earnings warnings came from Scient
Mercury Interactive
Analysts dismissed yesterday's speculation that Yahoo
Openwave
Networkers had a tough time despite positive earnings from Redback Networks
NBC Internet
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The Nasdaq has had a perfect record since the Fed cut rates: the five up days since then have all come on rising volume, and the five down days since then have all come on declining volume. We couldn't ask for better price and volume action. However, the Nasdaq is threatening to break that string of perfection today, rising on 20% lower volume so far. Given the dojis (potential rev slipped 3 to 404, but the Nasdaq climbed 48 to 2730. The S&P 500 added 14 to 1343, and the Dow rose 98 to 10,682, boosted by IBM's earnings. Volume declined to 574 million shares on the NYSE, and 1.1 billion on the Nasdaq. Advancers led by 14 to 13 on the NYSE, and 18 to 17 on the Nasdaq. Economic reports continued to show a significant slowdown in manufacturing. For earnings reports, visit our earnings calendar at http://www.wsrn.com/apps/earnings/internet.xpl and reported earnings at http://www.wsrn.com/apps/earnings/ireported.xpl. For after hours quotes and news, visit our after hours trading site at http://www.afterhourstrading.com.
, Sun Microsystems
, eBay
, Commerce One
, Nortel
and Inktomi
.
soared 10 15/16 to 137 1/2 after beating estimates by 8 cents with 46-cent earnings and declaring a 3-for-2 stock split.
beat estimates by a penny with 9-cent earnings, but the stock fell 3 15/16 to 49 15/16 on concern about competition from the likes of Oracle
and comments that business could slow .
surged 3 to 17 15/16 after beating estimates by 9 cents with a 5-cent loss. Expedia
rose 2 to 13 3/4.
plunged 5 11/32 to 7 5/32 on an earnings warning. BroadVision
fell 2 7/8 to 14 3/8, and Art Technology
lost 5 1/2 to 19 1/2.
, down 1/4 to 3 3/16, S1
, off 1 1/4 to 6 1/2, Entrust
, down 1 5/8 to 15 3/4, and Jupiter Media Metrix
, down 1 9/16 to 6 7/8.
surged 5 15/16 to 86 7/8 after beating estimates by 4 cents with 28-cent earnings. Marimba
, up 17/32 to 7 21/32, beat estimates by 6 cents with a 1-cent loss.
could be a takeover target, but traders didn't appear to be listening sending the stock 2 9/16 higher to 32 13/16.
continued to rise on positive analyst comments, climbing 2 5/16 to 49 7/16, but off its intraday high of 53 1/4.
, down 7 7/16 to 41 1/8, Extreme Networks
, down 6 15/16 to 40 15/16, Avici
, off 1 11/16 to 33 1/4, and Efficient Networks
, off 5/8 to 13 13/16.
slipped 3/16 to 4 after announcing 30% layoffs.