By Benjamin Pimentel
The tech sector advanced early Thursday, powered by gains in
shares of Symantec Corp. and broader investor optimism on reports
of an expanding U.S. economy.
Symantec (SYMC) shares soared more than 10% in the opening
minutes of the session, a day after the security-software maker
posted higher earnings despite a revenue decline.
LSI Corp. (LSI) also saw its shares jump more than 5%, a day
after the chip maker posted a jump in quarterly profit.
The double play, combined with news of a 3.5% increase in U.S.
gross domestic product, helped lift the tech sector to early gains,
as the Nasdaq Composite Index (RIXF) rose 0.7% to 2,074.
The Morgan Stanley High Tech 35 Index (MSH) and the Philadelphia
Semiconductor Index (SOX) were each up 1%.
Major tech players posted gains, including Intel Corp. (INTC),
eBay Inc. (EBAY) and Apple Inc. (AAPL).
However, Oracle Corp. (ORCL), Yahoo Inc. (YHOO) and Microsoft
Corp. (MSFT) were in the red.
The Dow Jones Industrial Average (DJI) was up more than 50
points.