For after hours quotes and news, visit our new after hours trading site. The firm rates Yahoo a Neutral. But the news had surprisingly little effect on other Internet stocks. Advertising stocks were mixed after strong gains on Friday. The firm believes AskJeeves could exceed estimates for the third quarter due to a strong showing in corporate services.
Volume is low for a breakout, however, and indicators on the indexes are overbought.
If it can close above that number and keep going, that would be a real positive. Also, the index may have negated a bearish rising wedge this morning, another positive. The Dow is on track for its highest close since January's 11,723 all-time high, if it can close above the April high of 11,287. Above 11,300, the Dow faces resistance at 11,400. We still have those nagging rising wedges on the Nasdaq and Nasdaq 100, and neither index has come close to challenging the upper boundary of its respective rising wedge today.