Solid gains in the chip sector helped save the stock market from a steep decline on Wednesday.
Stocks ended the day modestly lower on earnings and inflation worries, along with the crash of a small airplane in New York City.
But a gain of more than 1% in the chip sector Rambus AMD Lam Research
Online brokers were big movers on news that Bank of America Ericsson Audiovox Investors had mixed reactions to news that stock option probes had claimed top officials at CNET The Nasdaq slid 7 to 2308, the S&P 500 lost 3 to 1349, and the Dow fell 15 to 11,852. Volume rose to 2.59 billion shares on the NYSE, and 2.06 billion on the Nasdaq. Decliners led 19-13 on the NYSE, and 17-12 on the Nasdaq. Downside volume was 55% on the NYSE, and 58% on the Nasdaq. New highs-new lows were 155-18 on the NYSE, and 138-45 on the Nasdaq. helped limit losses.
was a big winner, gaining nearly 11% on a licensing deal with Toshiba.
gained 5% on a ThinkEquity upgrade.
continued the good news after the bell, edging higher after blowing past estimates, and the company’s guidance also appeared solid. But late news of a patent lawsuit filed against Intel
by Transmeta
seemed to weigh on the sector in after-hours trading.
will offer free online trading. Ameritrade
lost 12%, and E*Trade
and Schwab
also fell.
and Sony
gained on solid results from their joint mobile phone venture.
and IDT
fell on their results.
and McAfee
.