The tech sector is biggest gainer on Wednesday with the NASDAQ
Composite added about 1% in early morning session with major gains coming from EMC Corporation(NYSE:EMC) and VMware,
Inc.(NYSE:VMW) on earnings. Technology SPDR (ETF)(NYSEARCA:XLK) surged 1.13% to
$28.67 in first hour.
Get Complete Free
Analysis on The Tech Sector HERE
EMC Corporation
(NYSE:EMC) stock climbed 6.81% to $24.48 in the after hour trading after
the company reported a 11% increase in adjusted earnings per share for the
second quarter on higher revenues. Announcing its preliminary results, the
company said its adjusted earnings per share for the second quarter increased
to $0.39, while consolidated revenues for the quarter grew 10% to $5.31
billion. Analysts expect the company to report earnings of $0.40 per share for
the quarter on revenue of $5.29 billion.
Apple Inc.
(NASDAQ:AAPL) shares fell 0.01% to $606.85 in the early hour after Reuters
reported that A U.S. judge rejected several requests by Apple Inc and Samsung
Electronics Co Ltd to keep portions of key documents out of public view in
their high-stakes patent litigation battle set for trial later this month.
Apple Inc and Samsung Electronics Co Ltd are waging legal war in several
countries, accusing each other of patent violations as they vie for supremacy
in a fast-growing market for mobile devices.
Can AAPL Hit $1000
Mark by the end of this year? Get our Shocking
report for FREE HERE
Also, Pac Crest's Andy Hargreaves cautions the company could
deliver an FQ3 miss on Tuesday due to slowing iPhone sales, and that FQ4
estimates appear too high. Like most analysts voicing such concerns, Hargreaves
still expects a huge December quarter thanks to the next iPhone's launch.
Multiple analysts defended Apple yesterday.
eBay Inc
(NASDAQ:EBAY) shares climbed 1.74% to $39.75 in the morning hour after the
company’s payment business PayPal acquired card.io, a San Francisco-based
start-up that provides technology for developers to capture credit card
information using the camera on a smartphone. The employees at card.io will be
joining the PayPal global product team in San Jose to help us create new
experiences to make it even easier for consumers and merchants to use the
PayPal digital wallet.
Yahoo! Inc.
(NASDAQ:YHOO) shares climbed 0.06% to $15.61 in the early hour after the
company reported a decline of 4.2% in net income at USD 228.4 million for the
second quarter, as compared to net income of USD 238.5 million in the year ago
period. The company's revenue stood at USD 1.08 billion in the second quarter
of 2012, as against USD 1.07 billion in the year ago period.
ASML Holding N.V.
(ADR) (NASDAQ:ASML) shares climbed 4.12% to $53.62 in the early hour after
Tijd reported that the company announced that the company expects to report
second half of fiscal year 2012 sales at between EUR 2.2 billion and EUR 2.4
billion. Additionally, the shares of ASML was downgraded by equities research
analysts at Jefferies Group from a “buy” rating to a “hold” rating in a
research note issued to investors today.
Telefonaktiebolaget
LM Ericsson (ADR) (NASDAQ:ERIC) shares gained 3.25% to $8.58 in the morning
hour after the company announced that for third quarter of 2012, it expects net
sales to be approximately flat sequentially. The Company reported revenue of
SEK50.974 billion in first quarter of 2012.
No comments:
Post a Comment