Stocks Rocket Higher On War Successes

Stocks soared Wednesday as U.S. forces advanced toward Baghdad.

The Nasdaq soared 48 to 1396, the S&P 500 surged 22 to 880, and the Dow soared 215 to 8285. Volume rose to 1.56 billion shares on the NYSE, and 1.64 billion on the Nasdaq. Advancers led 23-9 on the NYSE, and 22-9 on the Nasdaq. Upside volume was 87% on the NYSE, and 83% on the Nasdaq. New highs-new lows were 118-16 on the NYSE, and 127-30 on the Nasdaq.

After the close, Dell reaffirmed guidance. Interwoven’s CEO resigned, Cognos beat estimates, and JDA warned.

During the day, Overture plunged 11% on an analyst’s report that Microsoft may develop a competing service – even though Microsoft denied the report.

Dell , up 3.2%, announced alliances with Oracle and EMC , which gained 6.5% and 4%, respectively.

Gateway and Qwest rose despite saying they will file their annual reports late.

Network Associates gained 4% on an acquisition.

WebEx fell 4.6% after warning.

J2 Global and United Online rocketed to new 52-week highs.

Computer Sciences fell 12% on accounting concerns.

HP rose 2.3% despite a minor revolt by shareholders.

SBC climbed after passing on DirecTV.

AMD gained more than 9% after unveiling a faster transistor.

Qualcomm fell 5% on concern about competition from Samsung.

Concord EFS rose 4.8% on a buyout offer from First Data .

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