This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Friday's Tech Winners and Losers

Updated from 1:35 p.m. EDT with new stock prices

Tech stocks slid Friday as disappointing earnings reports, including one from Microsoft (MSFT), weighed down shares.

Shares of Ericsson (ERIC) surged after the company posted stronger-than-expected first-quarter revenue. Net income fell 55% from a year ago to 2.65 billion Swedish kronor ($442 million), while revenue rose 5% from a year ago to 44.2 billion kronor ($7.38 billion). Analysts surveyed by Thomson Financial were looking for sales of $6.97 billion. Ericsson shares were up $2.93, or 13.5%, to $24.63.

Chinese search giant Baidu (BIDU) gained $21.69, or 6.3%, to $363.69 after the company posted better-than-expected first-quarter results and reported strong growth in traffic and online advertising.

Microsoft shed $1.97, or 6.2%, to $29.83 after its third-quarter results and updated forecast Thursday failed to live up to the Street's high expectations. Revenue for its third quarter was flat at $14.45 billion and in line with analysts' expectations of $14.5 billion. Net income fell 11% to $4.39 billion, or 47 cents a share, from $4.93 billion, or 50 cents a share, in the year-ago period. It beat analysts' EPS expectations of 44 cents. For the next fiscal year, the company projected revenue ranging from $66.9 billion to $68 billion and EPS of $2.13 to $2.19. Analysts are expecting revenue of $66.5 billion and EPS of $2.10.

Shares of Yahoo! (YHOO) fell 50 cents, or 1.8%, to $26.80 as Microsoft's Saturday deadline for Yahoo to accept its $31-a-share offer neared.

BlackBerry maker Research In Motion (RIMM) lost $3.62, or 2.9%, to $120.04 after a report in Fortune.com that said the company's upcoming iPhone killer device has been delayed by two to three months. Mike Abramsky, an analyst at RBC Capital agreed that the launch of RIM's HSDPA/3G 9000 series handset may be pushed to July/August instead of the generally expected May announcement. Reasons for the delay include concerns about battery life, voice quality, and other issues, he said in a research note.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

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.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,880.36 -31.75 -0.19%
S&P 500 1,970.07 +0.12 0.01%
NASDAQ 4,462.9020 +20.2040 0.45%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs