This Day On The Street
Continue to site
ADVERTISEMENT
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

Intel, EA: Tech Winners & Losers

NEW YORK ( TheStreet) -- Tech stocks led gains in the broad market Tuesday, bolstered by hopes of a third-quarter earnings beat by chipmaker Intel (INTC - Get Report). The Nasdaq closed up Tuesday 16 points at 2,417.

Citing strength in PC chipsets and microprocessors for the third quarter, Intel posted strong results Tuesday, reporting a 59% leap in earnings over the same period last year. Intel also reported a quarterly profit of about $3 billion, or 52 cents a share.

After its share price briefly rose nearly 2% after its beat, Intel was up about 15 cents in after-hours trading.

IBM, which hit a new high of $139.94 Monday, rose 0.14% Tuesday to close at $139.85. Shares lifted Monday as IBM investors expressed confidence that corporate customers will continue to invest in information technology despite uncertainty in the economy, Collins Stewart analyst Lou Miscioscia told Bloomberg News.

IBM, along with Apple (AAPL), will report quarterly earnings after market close on Monday, Oct. 18.

Salesforce.com (CRM), a big laggard Monday, recouped its share price losses Tuesday and climbed 5.57% -- or $5.56 -- to close at $105.47. Shares were climbing in after-hours trading by 73 cents.

Apple supplier and wafer company TriQuint Semiconductor (TQNT), whose components are rumored not to be included inside Apple's new CDMA/ Verizon (VZ) iPhone, issued third-quarter guidance today. TriQuint is expecting quarterly revenue of $238 million and EPS of 27 cents. According to Reuters, analysts are expecting the firm to report EPS of 20 cents on revenue of $221 million.

TriQuint climbed 11 cents Tuesday to close at $9.20.

On the other end of the tech market spectrum, videogame publisher Electronic Arts (ERTS) fell almost 6% after negative critical reviews surfaced for its Medal of Honor franchise. The company's stock price had risen almost 20% in the past three months in anticipation of the game's release.

EA closed down $1.05 to $16.61 Tuesday.

--Written by Olivia Oran in New York.



>To follow the writer on Twitter, go to http://twitter.com/TheStreet_Tech.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG
IBM $173.67 0.00%
INTC $33.42 0.00%
TQNT $69.60 5.60%
AAPL $128.95 0.00%
FB $78.99 0.00%

Markets

DOW 18,024.06 +183.54 1.03%
S&P 500 2,108.29 +22.78 1.09%
NASDAQ 5,005.3910 +63.9670 1.29%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs