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).