November 20, 2007 at 10:00 AM EST
Opening Bell Report

Tech stocks lifted the markets as investors set aside economic concerns to snap up bargains. The Dow surged 118 points to 13,077 while Nasdaq soared 34 points to 2627.

On the upside

Hewlett-Packard (NYSE: HPQ) posted profits that beat estimates yesterday as the computer and printer maker announced plans to buy back $8 billion in stock.

D.R. Horton (NYSE: DHI) posted a loss and wrote down inventory of homes and land options. However, the results were better than analysts' expectations.

Nordstrom (NYSE: JWN) bagged a higher than expected profit in the 3rd quarter that helped to offset lower guidance for the holiday shopping season.

On the downside

Target (NYSE: TGT) posted a smaller profit and missed estimates. Shares of the discount retailer fell despite authorizing a $10 billion stock buyback program.

Freddie Mac (NYSE: FRE) reported a $2 billion loss in the 3rd quarter which included $1.2 billion in reserves to cover bad home loans. Analysts warned that the mortgage guarantor may need to raise funds in order to shore up its balance sheet.

China-based Giant Interactive Group (NYSE: GA) posted higher online game revenues and profits, but costs also rose sharply.

In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 1 on the NYSE and by a margin of nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks added 6 points to 756.

Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here