With the presidential election decided, the focus now returns to earnings and the economy, which remain as mixed as the electorate.
After the close on Wednesday, Qualcomm fell on a warning, while NetEase
was unchanged after meeting estimates.
Also after the close, EDS delayed its earnings report once again. Roxio
beat estimates on strong Napster results. Sonus
, Jupitermedia
, eCollege
and Youbet
beat estimates. Business Objects
and iPayment
warned. Mamma.com
missed revenue estimates.
Stocks rose during the day on President Bush’s reelection win, as traders ignored an unexpected drop in factory orders.
The Nasdaq gained 19 to 2004, back to where it started the year. The S&P 500 climbed 12 to 1143, and the Dow rose 101 to 10,137. Volume rose to 1.77 billion shares on the NYSE, and 1.98 billion on the Nasdaq. Advancers led 25-7 on the NYSE, and 21-9 on the Nasdaq. Upside volume was 81% on the NYSE, and 58% on the Nasdaq. New highs-new lows were 361-12 on the NYSE, and 164-28 on the Nasdaq.
InterActiveCorp surged 14% after beating estimates.
Priceline rose 2% after the company beat earnings estimates but came in light on revenues and warned.
United Online jumped 10% on a share repurchase plan.
Corning climbed 3% after reaffirming guidance.
8×8 gained 10% on a retail deal with CompUSA.
