A tech sector company really had to be out of favor not to get a big pop today. Yahoo! (YHOO) was up 7.4% at 1 PM eastern time to $28.96. Sun (SUNW) jumped 7.6% to $6.09. Corning (GLW) rose 11.2% to $20.95. And RF Micro (RFMD) was up 12.8% to $7.78.
Even EMC (EMC) is up 3.1% to $13.97. Ebay (EBAY) added 4.3% to $29.83. And, Level 3 (LVLT) is up 4.1% to $6.19. AT&T (T) is up 3.8% to $36.71. Its Cingular Wireless unit had a huge Q4.
A bad day today may be an indication that Wall St. thinks a tech firm doesn’t have juice now and may not have any in the near future.
AMD (AMD) was down 8% to $16.10. Earnings were so bad that the stock may never rise again. The chip price war is keeping the pressure on Intel (INTC), up only .9% to $20.75.
Also lagging the crowd is the world’s largest software company, Microsoft (MSFT). The stock is up 1% to $31.06. Maybe the Wall St. crowd is nervous about the Vista launch. Apple (AAPL) is only up .9% to $86.49, but they are facing a potential class action suit on options backdating.
Oracle (ORCL) is going nowhere up .4% to $17.19, but its major rival SAP (SAP) had a dreadful quarter. It could be catching.
In the handset stocks, Motorola (MOT) is flat at $18.53, and Nokia is up 1.4% to $20.24.
But, if its isn’t up today, it may not be going up.
Douglas A. McIntyre can be reached at [email protected]. He does not own securities in companies that he writes about.
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