Wednesday's Tech Winners & Losers
Shares of Amazon.com (AMZN) were among technology's winners Wednesday, jumping 12% after the Internet retailer posted third-quarter results that surpassed Wall Street's expectations.
The company earned $19 million, or 5 cents a share, down from $30 million, or 7 cents a share, a year earlier. Revenue rose to $2.31 billion from $1.86 billion. The results beat analysts' forecast for earnings of 3 cents a share on revenue of $2.25 billion.
Looking ahead, Amazon.com sees fourth-quarter revenue of $3.63 billion to $3.95 billion. Analysts project revenue of $3.68 billion. Shares were trading up $2.50 to $36.13.
Shares of QLogic (QLGC) rose 8% after the maker of networking switches and adapters posted better-than-expected second-quarter results. For the period ended Oct. 1, the company earned $30.4 million, or 19 cents a share, on revenue of $145.3 million. Excluding items, QLogic earned $38.3 million, or 24 cents a share. Analysts expected earnings of 22 cents a share and revenue of $141.2 million. Last year, second-quarter adjusted earnings were $30.5 million, or 17 cents a share, on revenue of $119 million. Shares were trading up $1.57 to $20.80.Supertex (SUPX) jumped 15% after the chipmaker's second-quarter results topped estimates. For the period ended Sept. 30, the company earned $6 million, or 43 cents a share, on revenue of $26.5 million. Excluding stock-based compensation costs, the company earned $6.7 million, or 48 cents a share. Analysts predicted earnings of 40 cents a share on revenue of $25.9 million. A year earlier, the company earned $4.2 million, or 31 cents a share, on revenue of $20.2 million. Shares were adding $5.73 to $44.73.
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