Technology stocks ranging from Palm (PALM Quote) to EMC (EMC Quote) got a boost Wednesday as the broader market also advanced following a surprise jump in durable goods data.
A better-than-expected earnings report from business software maker Oracle (ORCL Quote) Tuesday also signaled improvement for the technology sector, which has seen a drop in demand amid the economic turmoil as companies tightened spending.
Oracle's shares rose $1.36, or 7%, to $21.25 in afternoon trading. In the past 52 weeks, the stock has changed hands between $13.80 and $23.62.
Ryan Jacob, portfolio manager of the Jacob Internet Fund at Jacob Asset Management, said a lot of Wednesday's activity was due to Oracle's performance and "a lot of it is just following the general market."...
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