After weeks of warnings from top technology and Internet names, investors were pretty pleased just to get in-line results and guidance from Dell .
Dell gained 4% on Friday, and rescued the rest of the market from what might have been another sell-off on another new all-time high for oil prices, falling consumer confidence and a record trade deficit. About the only good news on the economic front was that wholesale inflation was contained in July.
The Nasdaq rose 4 to 1757, the S&P 500 added 1 to 1064, and the Dow climbed 10 to 9825. Volume declined to 1.17 billion shares on the NYSE, and 1.35 billion on the Nasdaq. Advancers led 19-13 on the NYSE, while breadth was even on the Nasdaq. Upside volume was 54% on the NYSE, and 56% on the Nasdaq. New highs-new lows were 28-110 on the NYSE, and 13-235 on the Nasdaq.
Dell wasn’t the only tech company winning over Wall Street with its results. Brocade , BEA
, Overland
and Agilent
gained on their quarterly reports.
Analog Devices slipped on its results.
Sohu.com fell 10% on problems with China Mobile.
And as Google prepares to go public, the company formerly known as Lindows lowered its IPO expectations.
