Sonus and Juniper
reported tentative signs of a recovery in telecom spending, raising hopes that the sector’s three-year slump is coming to an end.
Sonus rocketed 24% after cutting its loss to a penny a share, beating revenue estimates, and announcing a contract from Verizon .
Juniper gained 2.6% on its cautious outlook.
Juniper reported strong worldwide broadband growth, while Sonus said the trend appears to be toward incremental upgrades, from the mass buildouts of a few years ago.
But it’s a start.
The market rebounded Friday after GE’s earnings and the producer price index produced no negative surprises.
The Nasdaq rose 18 to 1733, the S&P 500 climbed 9 to 998, and the Dow gained 83 to 9119. Volume declined to 1.21 billion shares on the NYSE, and 1.52 billion on the Nasdaq. Advancers led 22-10 on the NYSE, and 20-11 on the Nasdaq. Upside volume was 69% on the NYSE, and 68% on the Nasdaq. New highs-new lows were 176-1 on the NYSE, and 244-4 on the Nasdaq.
Amazon lost 1.6% after AOL
reportedly said it will start selling its own videos and music, ending the companies’ partnership.
Intel and IBM
rose ahead of earnings reports next week.
Homestore surged 25% on takeover rumors.
Powerwave slipped 2.6% after missing estimates.
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