Stocks Gain On Hopes For Peace

Tuesday was another volatile day in the stock market, as steep losses on international tensions and plunging consumer confidence turned into gains on reports that Russia may be trying to broker a peace between Iraq and the U.S.

The Nasdaq climbed 6 to 1328, the S&P 500 gained 5 to 838, and the Dow rose 51 to 7909. Volume rose to 1.48 billion shares on the NYSE, and 1.4 billion on the Nasdaq. Advancers led 19-13 on the NYSE, and 16-15 on the Nasdaq. Upside volume was 61% on the NYSE, and 52% on the Nasdaq. New highs-new lows were 52-168 on the NYSE, and 65-113 on the Nasdaq.

After the close, Hewlett-Packard missed revenue estimates, blaming “weak commercial spending” in the U.S. Semtech and Wind River beat estimates, and Autodesk warned.

During the day, Overture fell 11% on another acquisition.

Broadwing , the former Cincinnati Bell, rose 16% after saying it will sell its broadband assets and name.

Roxio gained 2.8% after saying it will bring back Napster as a paid service.

Sun , up 1%, outlined a new software strategy.

Microsoft , up 0.5%, is pushing Windows XP for enterprises.

Intel , up 1.2%, will develop next-generation antennas for wireless notebook computers.

Macrovision and Register.com rose after beating revenue estimates.

AT&T , up 0.4%, and Cisco , down 2.4%, boosted their partnership. Cisco also released a video platform.

EDS , down 4%, won a Navy contract.

divine lost 12% after saying it will file for bankruptcy.

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