Nasdaq Stocks Rise, But Trade Barely Improves

The Nasdaq composite gained 0.6% on Tuesday as volume edged just slightly higher. Winners beat losers by nearly 2-to-1.

Silicon Motion Technologies SIMO jumped 2.35, or 10%, to a new high of 25.41 on 31/2-times normal turnover.

The Taiwan-based chip maker raised its first-quarter revenue guidance on stronger-than-expected markets. Results are due April 20.

Cytyc CYTC advanced 0.87 to 33.98, hitting an all-time high on more than double its usual volume. The stock cleared a long saucer base in February. It's found support at its 10-week moving average several times since.

The maker of medical diagnostic systems made a second tender offer on Monday for the remaining shares of Adeza Biomedical ADZA to complete its $425 million buy of the company. Adeza fell a penny to 23.99.

Stratasys SSYS also hit an all-time high, climbing 1.95 to 42.52 in heavy trade. The company makes systems used by manufacturers to build prototypes.

Shanda Interactive Entertainment SNDA surged 1.32 to 24.33 on above-average trade, bouncing off its 50-day moving average.

The Chinese online entertainment firm said it plans to buy back up to $50 million of its outstanding $72 million American Depositary shares. It also benefited from strong performance of overseas stocks.

Icon ICLR rose 1.47 to 43.30 on heavier-than-usual volume. The Irish provider of contract clinical research services found support above its 50-day line for a second time after clearing a base in January.

Comtech Group COGO gained 0.54 to close at 17.07 on above-average turnover. The Chinese maker of mobile handset components may be working on the right side of a base.

On the downside, DXP Enterprises DXPE lost 1.23 to 39.48 on 21/2-times regular volume.

The Houston-based firm's shares gapped up on Friday after the company reported a 69% jump in fourth-quarter earnings, beating Thomson Financial's consensus view.

Chaparral Steel CHAP fell 1.77 to 52.24, after hitting a record high, as volume swelled to almost double its normal.

After the close, the steel maker reported a 25% rise in fiscal fourth-quarter earnings, beating analyst estimates. But it also is the third consecutive quarter of decelerating earnings growth.

Copyright 2007 Investor's Business Daily, Inc.