Tech stocks rose Tuesday after takeover speculation boosted a number of names in the sector.
Avaya, InfoSpaceand CDWall gained on reports that they could be the next targets of the buyout craze, with Avaya and CDW rumored to be private equity targets and InfoSpace coveted by Spanish mobile content provider LaNetro Zed.
CT Communicationssoared on a buyout offer from Windstream.
Googleedged higher despite news that its DoubleClick acquisition will face antitrust scrutiny.
VeriSignshares climbed on a change at the top.
Blue chips edged higher ahead of a busy news week, with Federal Reserve meeting minutes, preliminary GDP, manufacturing data and the government’s monthly jobs report all set to make headlines later this week. Dellwill be the tech sector’s big earnings report, due out late Thursday.
The Nasdaq was up 15 to 2572, the S&P 500 rose 2 to 1518, and the Dow gained 14 to 13,521. Volume rose to 2.58 billion shares on the NYSE, and 1.73 billion on the Nasdaq. Advancing issues led by a 20-11 margin on the NYSE, and 19-11 on the Nasdaq. Upside volume was 56% on the NYSE, and 67% on the Nasdaq. New highs-new lows were 163-29 on the NYSE, and 141-47 on the Nasdaq.