Rambus gave investors a couple of years worth of returns on Monday, soaring 38% after the U.S Supreme Court opened the way for the company to receive DDR and SDRAM royalties.
With no debt and extremely low capital expenditures, the ruling could give Rambus a license to print money. Based on Monday’s action, investors apparently hear the presses starting up.
The broader market traded higher ahead of third-quarter earnings reports. Dow component Alcoa reports Tuesday night, and Yahoo
reports on Wednesday.
The Nasdaq rose 12 to 1893, the S&P 500 climbed 4 to 1034, and the Dow gained 22 to 9594. Volume fell to 1 billion shares on the NYSE, and 1.37 billion on the Nasdaq. Advancers led 20-11 on the NYSE, and 20-11 on the Nasdaq. Upside volume was 67% on the NYSE, and 73% on the Nasdaq. New highs-new lows were 327-1 on the NYSE, and 278-10 on the Nasdaq.
After the close, Looksmart plunged after announcing it had lost MSN’s business. SGI
raised guidance, and Quantum
warned.
During the day, Motorola surged 10% on plans to spin off its chip unit.
PeopleSoft rose 3% after boosting guidance.
Manugistics surged 10% on a deal with Sun
.
Earthlink gained 5% on its own legal victory.
University of Phoenix Online rose 4% ahead of earnings Tuesday morning.
Internet Initiative Japan plunged 23% on a Nasdaq delisting notice.
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