Stocks surged Monday after an influential analyst upgraded shares of Cisco Systems.
Tim Luke of Lehman Brothers said early indications are that Cisco has maintained April's strong pace into May. Luke raised his rating to Overweight from Equal Weight and set an $18 price target. Cisco gained 4.5% to 16.67.
The Nasdaq surged 21 to 1541, the S&P 500 gained 11 to 945, and the Dow rose 122 to 8726. Volume rose to 1.36 billion shares on the NYSE, and 1.78 billion on the Nasdaq. Advancers led 23-9 on the NYSE, and 20-11 on the Nasdaq. Upside volume was 84% on the NYSE, and 83% on the Nasdaq. New highs-new lows were 290-4 on the NYSE, and 206-6 on the Nasdaq. Technology Markets News on Yahoo! News::
NEW YORK - Cisco Systems Inc. said Tuesday that sales would be weaker than Stocks surge higher, led by financial sector AP - Wed Jul 30, 7:49 PM ET
http://news.yahoo.com/i/2962HOME |
After the close, Avanex soared on news that it plans to acquire optical component assets from Corning and Alcatel. eSpeed and CNT came in light on revenues.
During the day, the IPO of iPayment priced at 16, opened at 19.30, and closed at 21.02. The first Internet IPO of the year was dogged by an analyst controversy.
Applied Materials rose 4.2% ahead of tomorrow night's earnings report, and Dell hit a new 52-week high ahead of its report on Thursday. Tech Stocks Surge Higher::
Tech Stocks Surge Higher By Paul Shread April 17, 2003 Cisco gained 2.9% after boosting its Channel Partner Program, which makes up 90% of the company's
http://63.236.73.127/bus-news/print.php/2192981HOME |
US STOCKS-Market rises on Cisco outlook, drop in oil::
Aug 7, 2008 Banks, miners lift Europe stocks as Lonmin surges. Market indices 7 August,2008 US STOCKS-Wall St ends higher on Cisco outlook, oil drop
http://money.ninemsn.com.au/article.aspx?id=610331HOME |
Sina.com added 0.7% on changes at the top.
SBC rose 4% on news that it will be able to charge competitors higher wholesales prices in Illinois.
Intel gained 2% despite an Itanium 2 flaw.
Mercury Interactive gained 5% on an acquisition.
And two studies looked at the ongoing IT spending slump.
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