Bulls Battle Back

Stocks bounced back from a steep decline Wednesday, as investors awaited a UN vote on Iraq that could take place by the end of the week.

The Nasdaq gained 7 to 1279, the S&P 500 tacked on 3 to 804, and the Dow climbed 28 to 7552. Volume rose to 1.54 billion shares on the NYSE, and 1.53 billion on the Nasdaq. Decliners led 18-13 on the NYSE, and 16-14 on the Nasdaq. Upside volume was 49% on the NYSE, and 57% on the Nasdaq. New highs-new lows were 42-327 on the NYSE, and 27-143 on the Nasdaq.

After the close, Cymer warned. Comverse beat estimates, but announced that its president is stepping down.

During the day, Rambus and Infineon both gained 3% as the industry continued to take sides in their landmark dispute.

Intel rose 2.2% after officially unveiling its wireless platform. Never one to pass up a shot at Intel, AMD unveiled mobile processors.

Broadcom gained 4.5% on an upgrade.

CDW gained 1.3% despite warning.

AOL , off 3%, plans to block pop-ups with AOL 8.0. Yahoo , up 1.2%, is fighting spam.

Oracle , up 3%, is pushing business intelligence.

Red Hat gained 2.2% on strong sales.

Expedia , up 0.7%, is placing more emphasis on hotel reservations.

IBM , down 0.2%, will take over some data centers from BellSouth .

EMC , up 0.6%, is targeting the mid-range market.

HP rose 1% after unveiling a printer services initiative.

And Gartner said the economy and threat of war are depressing PC sales.

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