Apple shares briefly fell below $400 for the first time since December 2011 on the back of weaker-than-expected-results from one of its suppliers, Cirrus Logic (CRUS). Apple declined 5.5% on the day to $402.80.
Google (GOOG) shed 1.4% to $782.56 after Microsoft (MSFT) came to an agreement with Foxconn parent company Hon Hai that said all Android or Chrome devices produced by Hon Hai group manufacturers would result in royalty payments to the world's largest software maker. The news was disappointing to Google, which is in a bitter patent war with Microsoft over the technologies.
Google reports first-quarter earnings after the bell on Thursday.eBay (EBAY) lost 1.6% to $56.10 ahead of its first-quarter earnings call held after the close. The company was expected to post quarterly profit of 62 cents a share on revenue of $3.76 billion. Yahoo! (YHOO) dipped 0.4% to $23.70 after the company's first-quarter earnings call revealed the core of its business continues to take a long time to turn around, taking some off shine off CEO Marissa Mayer. Intel (INTC) bucked the trend of technology declines as the stock recovered from an early-morning sell-off after the world's largest semiconductor maker posted earnings that fell below forecasts. The company also projected revenue broadly in line with Wall Street's forecast of $12.85 billion. Shares closed on a gain of 0.1% to $21.93. Top PC maker Hewlett-Packard (HPQ) skid 2.62% to $20.49 after Intel's disappointing numbers. Written by Andrea Tse in New York >To contact the writer of this article, click here: Andrea Tse.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV