Stocks were mixed in early trading Friday as technology shares got a boost from a rosy sales outlook from Intel Corp.
Intel shares rose nearly 5 percent, helping to lift the Nasdaq composite index more than 0.5 percent, after the world's largest maker of computer chips said it now expects sales of up to $9.2 billion in the current quarter, up from its previous forecast of as much as $8.9 billion.
Intel's upbeat report came a day after computer maker Dell Inc. posted better-than-expected results for its May-July quarter. While Dell's sales continued to fall because of reduced spending by consumers and businesses, the company said it has seen signs of improvement.
Despite a rise of nearly 5 percent in the Dow Jones industrials over the past eight days, the market remains cautious. Investors are worried that the market's huge rally this spring and summer, which pushed stocks up more than 45 percent since early March, may have run its course. Trading has been choppy and volume has been light as summer on Wall Street winds to a close.
In early trading, the Dow Jones industrial average fell 17.46, or 0.2 percent, to 9,563.17. The Standard & Poor's 500 index rose 0.54, or 0.1 percent, to 1,031.52, while the tech-heavy Nasdaq composite index rose 13.36, or 0.7 percent, to 2,041.09.
Yesterday’s Top Performing Small Cap stock:
Green Star Alternative Energy, Inc. (Pink Sheets: GSAE) was a SmallCapVoice.com top performer closing up over 10% on trading volume of 139,260 shares.
A New Audio Interview with Mike Andric, CEO of Green Star Alternative Energy, Inc., is now at SmallCapVoice.com. The interview can be heard at http://smallcapvoice.com/blog/8-26-09-audio-interview-with-green-star-alternative-energy-inc-otcpk-gsae/
Today’s SmallCapVoice.com Hot Stock to Watch:
Sunergy, Inc. (OTC BB: SNEY)
Sunergy is an aggressive junior mining exploration and development Company that is production oriented at the earliest possible profitable opportunity. We control 100% of the 150 SQ. Km. Nyinahin mining concession with a full prospecting license. The concession is surrounded by several operating mines and is adjacent to Newmont Mining's property. This concession has the Ofin river flowing through our eastern portion and there are numerous artisan pits ready for testing and evaluation for near term production. The Ofin river is known for good alluvial gold production. Artisans usually recover about 30% of the available gold through primitive hand methods, leaving 60-70% to be recovered by modern mechanical operations.
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