Blue chip stocks rose Wednesday as U.S. warplanes began bombing Iraqi missile sites near the Kuwait border, but tech stocks were restrained on disappointing results from Oracle.
The Nasdaq slipped 3 to 1397, the S&P 500 gained 7 to 874, and the Dow rose 71 to 8265. Volume declined to 1.42 billion shares on the NYSE, but rose to 1.71 billion on the Nasdaq. Advancers led 17-14 on the NYSE, and 16-15 on the Nasdaq. Upside volume was 64% on the NYSE, but only 44% on the Nasdaq. New highs-new lows were 37-30 on the NYSE, and 64-40 on the Nasdaq.
After the close, 3Commissed loss estimates but beat revenue estimates, and Jabilmatched estimates.
During the day, Expediarocketed 21% on news that USA Interactivewill acquire the rest of the company.
Oraclefell 7.7% after coming in light on license revenues and offering a wide range of guidance. Microchiplost 9.4% on a warning.
pricelinesoared 31% on a deal with Travelweb.
Symantecfell 6% on a downgrade.
Sprintgot a new CEO at last.
Ciscorose 0.1% on an IP telephony acquisition.
Motorolafell 5% after switching operating systems.
Microsoftedged up 1.1% despite a serious Windows flaw.
RedHatedged up 0.3% on a partnership with HP, which climbed 1.3%.
Xeroxwas unchanged after unveiling a new print compression technology.
AT&Tslipped 1.3% despite winning a deal with Air China.
Ted Turner, meanwhile, said he’d rather go back to one of his ex-wives than go through the AOL-Time Warner merger again. AOL stockslipped 0.7%.
Market Commentary: For our free daily market commentary and technical analysis, please visit the InternetStockReport.com home page at:
http://www.InternetStockReport.com.