Tech Trails Dow, S&P in Short Session; Micron Gains

Tech lumbered to the finish line in today’s abbreviated trading session, with the Nasdaq rising 3.36 points, a mere .22%, compared to gains of .6% for both the Dow Jones Industrials and the S&P 500. Among big gainers, Micron Technology (MU) rebounded nicely despite last night’s earnings disappointment , though the commentary from the Street suggests analysts are focused like a laser on gross losses, which were much worse than most expected. Visibility is limited, as they say, for Micron, given ongoing bailouts of fellow DRAM memory makers that threatens to keep pumping product into an already saturated market, pushing prices of the chips down further. Broadline semiconductor makers were up modestly, with Intel (INTC), Texas Instruments (TXN) and Advanced Micro Devices (AMD) notching up gains of a percent or two. There was little news, however, the gains mostly reflecting the overall rise of 1.6% for the Semiconductor HOLDRs ETF (SMH). Short interest on the Nasdaq fell 3.3%, Dow Jones ... (link)