Stocks closed mixed as investors digested a weak outlook from Hewlett-Packard, a disappointed read on the housing market and an unexpected drop in April industrial production. Most of tech stocks dropped on news from HP. Gains came from Yahoo, Research In Motion, Apple and Google. In the evening trading Dell surged 5% after upbeat Q1 results. Intel was also up slightly as its executives said the company was seeing strong PC demand in emerging markets, and that the first Intel-based smartphone would be released next year. Implied volatility inched lower on modest trading volumes.
Wednesday, May 18, 2011
Eked out a gain
Stocks closed mixed as investors digested a weak outlook from Hewlett-Packard, a disappointed read on the housing market and an unexpected drop in April industrial production. Most of tech stocks dropped on news from HP. Gains came from Yahoo, Research In Motion, Apple and Google. In the evening trading Dell surged 5% after upbeat Q1 results. Intel was also up slightly as its executives said the company was seeing strong PC demand in emerging markets, and that the first Intel-based smartphone would be released next year. Implied volatility inched lower on modest trading volumes.
