Ray; [TXN] et al
SAN FRANCISCO (MarketWatch) -- Technology stocks rose Wednesday as semiconductor shares led a rally on the heels of upbeat views about Texas Instruments Inc. and Altera Corp.
TI (TXN : Texas Instruments Incorporated
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Last: 32.18+2.33+7.81%
4:22pm 03/01/2006
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TXN32.18, +2.33, +7.8%) climbed $2.33, or almost 8%, to close at $32.18 after Goldman Sachs said the communications chipmaker could raised its financial forecasts during a mid-quarter update set for March 6. See full story.
Altera (ALTR : Altera Corporation
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Last: 21.18+1.14+5.69%
4:40pm 03/01/2006
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ALTR21.18, +1.14, +5.7%) rose $1.14, or 5.7%, to $21.18. Before the market opened, Bear Stearns raised its rating on the programmable logic chipmaker to outperform from peer perform. Analyst Gurinder Kalra said there is evidence that Altera has seen better bookings and orders, and the company could raise its revenue outlook during a mid-quarter update on March 6.
Xilinx Inc. (XLNX : Xilinx Inc
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Last: 28.02+0.74+2.71%
4:40pm 03/01/2006
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XLNX28.02, +0.74, +2.7%) , Altera's main rival, rose 74 cents to $28.02.
Other chipmakers on Advanced Micro Devices Inc., Broadcom Corp. and Micron Technology Inc.
Intel Corp. (INTC : Intel Corporation
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Last: 20.80+0.20+0.97%
4:40pm 03/01/2006
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INTC20.80, +0.20, +1.0%) rose 20 cents to $20.80, even after JP Morgan cut its 2006 and 2007 earnings estimates on the chip king due to signs of increased competition from AMD.
With chip stocks in the lead, the tech-heavy Nasdaq Composite Index ($COMPQ : Nasdaq Composite Index
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Last: 2,314.64+33.25+1.46%
4:56pm 03/01/2006
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$COMPQ2,314.64, +33.25, +1.5%) surged more than 33 points to close at 2,314. The Philadelphia Semiconductor Index ($SOX : phlx semiconductor index sox
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Last: 545.87+22.68+4.33%
4:02pm 03/01/2006
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$SOX545.87, +22.68, +4.3%) climbed almost 23 points, or more than 4%, to end the day at 545.87.
Among other tech stocks, Apple Computer Inc. (AAPL : Apple Computer, Inc.
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Last: 69.10+0.61+0.89%
4:40pm 03/01/2006
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AAPL69.10, +0.61, +0.9%) rose 61 cents, to close at $69.10 a day after unveiling its revamped Mac Mini computer that runs on Intel chips. Apple also debuted a new company-branded stereo system for the iPod. See full story.
Design-software developer Autodesk Inc. (ADSK : Autodesk Inc
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Last: 41.68+4.03+10.70%
4:40pm 03/01/2006
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ADSK41.68, +4.03, +10.7%) climbed $4.03, or almost 11%, to $41.68. On Monday, the company reported a strong fourth-quarter report and gave an upbeat first-quarter outlook. See full story.
Hewlett-Packard Co. (HPQ : Hewlett-Packard Co.
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Last: 34.05+1.24+3.78%
4:16pm 03/01/2006
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HPQ34.05, +1.24, +3.8%) , rose $1.24, or almost 4%, to $34.05 in advance of a Wednesday Webcast between Chief Executive Mark Hurd and Intel CEO Paul Otellini. The executives are expected to discuss marketing and support for Intel's Itanium server chip technology. See full story. |
