Nice GDP number is giving the market a boost this morning. The number showed the economy is doing well despite Katrina.

Microsoft released strong fiscal 1st quarter number, but guidance for the 2nd quarter is weak. The stock turn around this morning due to good GDP number and an upgrade from Credit Suisse First Boston.

Qualcomm is down sharply because six companies complain to the European Union that the company broke antitrust law about its licensing on mobile phone patents.

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