Wall Street ends higher
CNBC’s Margaret Brennan – Stocks took off in the last hour of trading after rocky session. The Dow ended up 95 points and Nasdaq higher by 43, closing at its highest levels since November; thanks to traders loading up on tech.
Google up 2% ahead of the release of its earnings and those results were better than expected, net income up nearly 9% and shares were gaining after hours doing active session though Yahoo was up on reported selling its stake in South Korea’s e-commerce company Gmarket. Hewlett-Packard was actually the Dow’s strongest component on the day up 5% on news that they plan to introduce a new server system. The strength in tech maybe an indication of a willingness to take on risk and arguments as to what happen in the IPO market today is proof of that.
Language software company Rosetta Stone made it debut on the New York stock exchange and shares rouse nearly 40% on the day making it the best performing IPO in a year.