Texas Instrumentsand Novelluslost ground after hours Monday despite better than expected results.
The reason for the drop in shares of Novellus was clear – the company warned that first-quarter earnings will be below analysts’ estimates. But investors were apparently expecting even more from Texas Instruments, which fell 2% after hours despite beating estimates and raising revenue guidance.
All was not lost in the after-hours session, however. Agilentsoared 10% after raising guidance, and Silicon Labssurged on its results.
Stocks surged during the day on strong housing data and better than expected results from American Express.
The Nasdaq surged 29 to 2153, the S&P 500 rose 13 to 1155, and the Dow gained 134 to 10,702. Volume declined to 1.44 billion shares on the NYSE, and 1.96 billion on the Nasdaq. Advancers led 18-14 on the NYSE, and 20-11 on the Nasdaq. Upside volume was 71% on the NYSE, and 73% on the Nasdaq. New highs-new lows were 426-2 on the NYSE, and 357-4 on the Nasdaq.
Lucentsurged 8% on a positive mention in Barron’s.
Lexmarkrose 7% after beating estimates.
IBMstopped just short of the $100 level.
eBayslipped 1% on an acquisition.
And Oracleended down after stepping up its pursuit of PeopleSoft.
Market Commentary: For our free daily market commentary and technical analysis, please visit the InternetStockReport.com home page at:
http://www.InternetStockReport.com.