eBaybecame the latest tech giant to deliver better than expected results after the close on Wednesday.
eBay’s earnings of 31 cents a share beat estimates by a nickel, and revenues of $746.2 million bested $716.2 million forecasts. The company also raised its full-year outlook. Shares of eBay gained two points after hours.
Also after the close, Qualcommrose after beating estimates and raising guidance, but Juniper Networksand KLA-Tencorfell on their reports.
Tech stocks rose during the day on blowout results from Motorola, which soared 19%. The broader market edged higher after Fed Chairman Alan Greenspan’s comments to Congress were interpreted as more market-friendly than those he made on Tuesday.
The Nasdaq gained 17 to 1995, the S&P 500 rose 5 to 1124, and the Dow added 2 to 10,317. Volume rose to 1.72 billion shares on the NYSE, and 2.08 billion on the Nasdaq. Decliners led 17-15 on the NYSE, but advancers led 18-13 on the Nasdaq. Upside volume was 63% on the NYSE, and 67% on the Nasdaq. New highs-new lows were 56-155 on the NYSE, and 79-45 on the Nasdaq.
Tellabs, Sanmina, Applied Microand CheckFreerose on their results.
WebEx, Internet Security, AskJeeves, StorageTek, Cymerand Seagatefell on their earnings reports.
CArose 4% as the company’s accounting troubles claimed CEO Sanjay Kumar.
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