Stocks climbed Wednesday despite escalating international tensions. Russia, France and Germany said they will oppose a new UN resolution on Iraq, while the U.S. said it is prepared to act alone.
The Nasdaq rose 6 to 1314, the S&P 500 gained 7 to 829, and the Dow climbed 70 to 7775. Volume rose to 1.3 billion shares on the NYSE, and 1.36 billion on the Nasdaq. Advancers led 17-14 on the NYSE, while decliners led 16-15 on the Nasdaq. Upside volume was 62% on the NYSE, but only 43% on the Nasdaq. New highs-new lows were 89-174 on the NYSE, and 59-89 on the Nasdaq.
Oracle fell 4% after Lehman Brothers said licensing revenues may come in light when the company reports on March 18.
Rambus fell 10.5% on a mixed ruling in the FTC case.
Intel rose 2.2% ahead of a mid-quarter update on Thursday. The company also signed a WiFi deal in Asia.
Corning gained 7.2% after reaffirming guidance. Tibco
fell 7.1% after warning.
UTStarcom slipped 2.2% after saying it will acquire CommWorks from 3Com
, which rose 5.8%.
AOL gained 1.7% on an upbeat presentation.
Maxim and Genesis
gained on positive guidance.
EBay , up 1%, spawned a new feeder business.
Sony , up 0.5%, expressed interest in Palm’s
software division.
Covad , up 0.5%, is targeting Mac users.
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