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[C5.] Upbeat Forecast for Advertising A forecaster of advertising spending raised his 2004 estimates and offered an optimistic outlook for 2005.
Other wireless communications equipment makers were buoyed by Nokia's upbeat forecast.
Cisco Systems, which issued an upbeat forecast on Wednesday, rose 25 cents, to $21.79.
That latest drop came on the heels of some surprisingly good economic news, as well an upbeat forecast.
Despite the uneven economic news, an upbeat forecast from Honeywell International propped up the Dow Jones industrial average.
An upbeat forecast from the semiconductor industry gave Wall Street another reason to look beyond the day's negative economic reports.
Similar(31)
George Osborne managed to ease his planned austerity measures on Wednesday thanks to unexpectedly upbeat forecasts for the strength of the economy.
But stocks also rallied on the news that durable-goods orders soared in October, along with some upbeat forecasts from companies like Home Depot and General Motors.
Even more encouraging, many also issued upbeat forecasts for the rest of the year, suggesting that, for them at least, a recovery of sorts was at last taking hold.
It is designed to force Wall Street to produce honest stock research and to protect analysts from pressure within the firm to issue upbeat forecasts in order to attract investment banking fees.
Market analysts greeted the upbeat forecasts, however encouraging, with guarded optimism.
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