A disappointing earnings report from Microsoft wasn't enough to keep stocks down on Friday, as the S&P notched a multi-month high and the Nasdaq suffered only slightly. InternetNews Realtime IT News - Stocks Surge On Rising Volume::
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Microsoft shares fell 6% after the only part of the company's business to exceed Wall Street expectations was Xbox sales. Yahoo, meanwhile, slipped ahead of a key deadline in Microsoft's bid for the company. Tech Stock Sectors and Technology Industry Stocks: Single Source to ::
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Ericsson, Baidu and Juniper Networks were standouts in the tech sector on strong results, and better than expected earnings from American Express lifted the broader market.
Microsoft's results hit a number of leading tech names, including HP, IBM, Cisco and Oracle, all of which lost 1% or more.
Western Digital, Avid Technology, NetGear and SiRF fell on their results, while Ariba shares soared 20% on its earnings report.
The Nasdaq lost 6 to 2422, the S&P climbed 9 to 1397, and the Dow rose 43 to 12,891. Volume declined to 3.83 billion shares on the NYSE, and 2 billion on the Nasdaq. Advancers led by a 20-12 margin on the NYSE, and by a 16-12 margin on the Nasdaq. Upside volume was 67% on the NYSE, and 44% on the Nasdaq. New highs-new lows were 71-75 on the NYSE, and 55-89 on the Nasdaq.
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