The wireless sector got some good news on Thursday, with a bullish outlook from RF Micro Devices and the early release of results from Ericsson
.
Shares of RFMD jumped 6% after the company told analysts it expects to grow faster than the wireless market as a whole by delivering more sophisticated amplifiers and transceivers. RFMD’s biggest customer is Nokia , which released strong results last month.
And Ericsson gained 5% after a Stockholm paper published the company’s results a day early, citing sources at the company. Ericsson will officially report results Friday morning.
Stocks posted modest gains Thursday ahead of Friday’s January jobs report.
The Nasdaq recovered 5 to 2019, the S&P 500 added 2 to 1128, and the Dow rose 24 to 10,494. Volume declined to 1.57 billion shares on the NYSE, and 1.96 billion on the Nasdaq. Advancers led 17-15 on the NYSE, and 17-14 on the Nasdaq. Upside volume was 58% on the NYSE, and 53% on the Nasdaq. New highs-new lows were 91-12 on the NYSE, and 111-10 on the Nasdaq.
After the close, EDS , Looksmart
, Business Objects
, California Micro
, Maxim
, Triquint
and Commerce One
beat estimates. Brightpoint
missed.
During the day, Akamai soared 27% on better than expected results.
Roxio lost 7% despite beating estimates, and Level 3
fell 12% on its results.
Switchboard tumbled 21% on its numbers.
And Jupitermedia , publisher of this Web site, gained 9% on its earnings.
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