On the upside
Chip giant Intel (Nasdaq: INTC) raised its revenue targets for the current quarter.
Computer maker Dell (Nasdaq: DELL) posted lower earnings that beat expectations and issued optimistic statements about the 2nd half of the year.
Standard & Poor's Rating Services raised the debt rating for E-Trade Financial (Nasdaq: ETFC) citing a stable outlook.
Shares of American International Group (NYSE: AIG) continued to rise. Analysts explained that a short squeeze may be the reason for the sustained rally.
On the downside
Biopharmaceutical company Immunomedics (Nasdaq: IMMU) posted a slim profit. Investors took profits after recent gains following positive clinical trial results.
An analyst reiterated a hold rating for Novell (Nasdaq: NOVL) citing elusive sales growth.
In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 4 on the NYSE and by more than 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks rose a point to 584.
