Tech Stocks Lead The Market Higher
Stocks closed higher after crude oil
prices declined from record highs set last week. Technology stocks
led the advance, boosted by Agilent Technologies
(
A |
Quote |
Chart |
News |
PowerRating) +14.84% earnings
report and news that the company is selling its semiconductor business to
private equity firms Kohlberg Kravis Roberts and Silver Lake Partners for $2.66
Bln.
Time Warner
(
TWX |
Quote |
Chart |
News |
PowerRating) +1.42% closed higher after billionaire financier
Carl Icahn released a statement saying that he is part of a group of investors
that hold common stock and options that represent more than 120 million shares
of Time Warner. In the statement, Icahn called for Time Warner to separate its
cable business from its content business. He also suggested that the company
immediately commence a $20 billion share buyback.
Agilent was the biggest gainer in the S&P 500, followed by Dow Jones
(
DJ |
Quote |
Chart |
News |
PowerRating)
+11.03% on rumors circulating that the Bancroft family may sell the company, and
Teradyne
(
TER |
Quote |
Chart |
News |
PowerRating) +6.64%.
Delta Airlines
(
DAL |
Quote |
Chart |
News |
PowerRating) -13.66%, Charter One Financial
(
CF |
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Chart |
News |
PowerRating)
-3.51% and Whirlpool
(
WHR |
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Chart |
News |
PowerRating) -2.61% were the biggest fallers in the S&P
500.
Apple Computer
(
AAPL |
Quote |
Chart |
News |
PowerRating) +3.42% was the biggest percentage gainer in
the Nasdaq 100 after being named Piper Jaffray’s top stock pick for 2005.
Network Appliances
(
NTAP |
Quote |
Chart |
News |
PowerRating) +3.28% and Pixar
(
PIXR |
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News |
PowerRating) closed
out the top 3.
Sun Microsystems
(
SUNW |
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Chart |
News |
PowerRating) -2.08%,
Bed, Bath and Beyond
(
BBBY |
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Chart |
News |
PowerRating) -1.73% and Patterson Energy
(
PTEN |
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Chart |
News |
PowerRating)
-1.45% were the 3 biggest decliners in the Nasdaq 100.
Strongest Sectors
Disk Drives
(
DDX |
Quote |
Chart |
News |
PowerRating) +2.40% was the strongest sector today, followed by
Computer Hardware
(
HWI |
Quote |
Chart |
News |
PowerRating) +1.74% and Semiconductors
(
SOX |
Quote |
Chart |
News |
PowerRating)
+1.06%.
Weakest Sectors
Energy was the biggest drag on the market today. The Oil Services sector
(
OSX |
Quote |
Chart |
News |
PowerRating) -1.17% was the biggest decliner,
followed by Oil Index
(
OIX |
Quote |
Chart |
News |
PowerRating) -1.12% and Natural Gas
(
XNG |
Quote |
Chart |
News |
PowerRating)
-1.02%.
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| Dow | +34.07 | 10,634.38 |
| Nasdaq | +10.14 | 2167.04 |
| S&P 500 | +3.48 | 1233.87 |
| NYSE | Nasdaq | |
| Volume | 1,546,786,000 | 1,380,449,000 |
| Up Volume | 891 (58%) | 823 (60%) |
| Down Volume | 616 (40%) | 486 (35%) |
| Advances | 1915 | 1762 |
| Declines | 1346 | 1294 |
Ashton Dorkins
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