Texas Instruments and Novellus
lost 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. Agilent soared 10% after raising guidance, and Silicon Labs
surged 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.
Lucent surged 8% on a positive mention in Barron’s.
Lexmark rose 7% after beating estimates.
IBM stopped just short of the $100 level.
eBay slipped 1% on an acquisition.
And Oracle ended down after stepping up its pursuit of PeopleSoft
.
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