By Rex Crum
Technology stocks added to their gains Tuesday, with advances
from bellwethers Apple Inc. and IBM Corp. highlighting the sector's
upbeat performance.
Apple (AAPL) shares rose $8.16, or 4%, to $214.12, a day after
the company sent out invitations to the media for an event in San
Francisco on Jan. 27. The invitations said only "Come See Our
Latest Creation" and gave directions to the event.
It is widely speculated that Apple Chief Executive Steve Jobs
will use the event to unveil a tablet version of the Macintosh
computer.
IBM (IBM) shares rose, climbing $1.33 to $133.11 ahead of the
company's fourth-quarter report, due after the market close.
Synchronoss Technologies Inc. (SNCR) rose 58 cents a share, or
more than 3%, to $19 after the company announced a deal with Dell
Inc. (DELL) to handle the launches of all of the PC maker's
connected devices. This will include Dell's first smartphone, which
the company unveiled at CES earlier this month and is expected to
hit the market sometime this year.
Google Inc. (GOOG) shares turned higher, rising $6.89 to $586.98
following reports that the company plans to delay the release of
two of its new wireless phones in China. The move is seen as a
reaction by Google against efforts to hack into the company's
internal networks.
The Nasdaq Composite Index (RIXF) maintained its edge, rising
more than 27 points to 2,315, while the Philadelphia Semiconductor
Index (SOX) was up 1.6%. The Morgan Stanley High Tech 35 Index
(MSH) also rose more than 1%.
Other gains came from Oracle Corp. (ORCL), Hewlett-Packard Co.
(HPQ), EMC Corp. (EMC), Cisco Systems Inc. (CSCO) and Intel Corp.
(INTC).