became 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, Qualcomm
rose after beating estimates and raising guidance, but Juniper Networks
fell 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.
, Applied Micro
rose on their results.
, Internet Security
fell on their earnings reports.
rose 4% as the company’s accounting troubles claimed CEO Sanjay Kumar.
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