With an aggressive cut in its DSL pricing, Verizon recast the broadband landscape on Friday.
With the big drop to $34.95 a month, Verizon made big winners of Aware , Conexant
, Netopia
, Broadcom
and Advanced Fibre
, all of which could see increased DSL business, and losers of Comcast
, Cox
and AOL
, which may have to cut prices to keep pace with Verizon.
The broader market surged on an in-line jobless report and better than expected factory orders. But more important was a Merrill Lynch call that airlines are now much less likely to go bankrupt, which fueled a 2.3% gain in the Dow Transports.
The Nasdaq soared 30 to 1502, the S&P 500 rose 13 to 930, and the Dow surged 128 to 8582. Volume rose to 1.54 billion shares on the NYSE, and 1.84 billion on the Nasdaq. Advancers led 25-7 on the NYSE, and 22-9 on the Nasdaq. Upside volume was 84% on the NYSE, and 86% on the Nasdaq. New highs-new lows were 180-4 on the NYSE, and 210-16 on the Nasdaq.
priceline soared 32% after beating estimates and announcing a reverse stock split, and Cypress Semi
surged 12% after raising guidance.
Sun Microsystems climbed 12% on buyout rumors. Dell
was rumored to be a possible acquirer.
Genesis Microchip , InfoSpace
, and S1
fell on disappointing results.
Akamai surged 7% on a deal with IBM
.
Monster Worldwide , the former TMP Worldwide, rose 5% on a partnership with the Department of Defense, adding to strong gains earlier in the week on better than expected results.
Yahoo climbed 2.4% on a deal with Pepsi.
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