Major averages fell yesterday on lower volume but managed to close in the upper half of their intraday trading ranges. On the dailies, they remain stuck in their trading ranges.
Two technology mega-caps beat estimates:
Alibaba (BABA 102.89, +4.48): +4.5% after the company beat on the top and bottom lines and issued positive guidance.
Yahoo! (YHOO 43.90, +1.50): +3.5% after beating on the top and bottom lines. The company hopes to complete the sale of its core business to Verizon by the end of the second quarter.
BABA may qualify as a buyable gap up depending on how it trades.
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