US computer-related stocks receive timely boost with Oracle Corp move

US COMPUTER-RELATED stocks rose after Oracle Corp raised its offer for software maker PeopleSoft Inc and Lehman Brothers Inc boosted its rating on three semiconductor makers.

The Standard & Poor's 500 Index pared early losses as investors snapped up shares to extend a three-month rally that has lifted the benchmark by 26% since March 11.

Stocks have rallied on expectations of faster economic and profit growth in the second half of the year.