Google, AMD, EMC: Tech Winners

NEW YORK (TheStreet) -- Earnings announcements pushed Google (GOOG) and Advanced Micro Devices (AMD) upwards in afterhours trading, while buyout rumors sparked huge upticks for EMC (EMC) and Yahoo! (YHOO)

Google beat the street, posting huge third-quarter earnings Thursday, as net income rose 31% to $2.17 billion or $6.72 per share, compared to $1.64 billion or $5.13 per share in the same period last year.

Revenue increased 23% year over year to $7.29 billion.

Google shares climbed more than 9% in after-hours trading.

Chipmaker AMD reported a net loss of $118.0 million and a net loss per share of 17 cents. Revenue grew 16% from the same period last year to $1.62 billion.

Shares rose more than 6.3% in afterhours trading.

In non-earnings news, storage equipment maker EMC closed up 4.48% today after rumors circulated that it could be acquired by Oracle (ORCL). Oracle shares fell 0.94% to close at $28.33.

Reports of a Yahoo! buyout pushed the search giant's shares up 4.46% to close at $15.93. According to a report in the Wall Street Journal, AOL and a pool of investors are in preliminary talks to purchase Yahoo!.

Shares of Yahoo! closed up nearly 5% to $15.93 Thursday; in after-hours trading, the stock was up another 11 cents.

Verizon Wireless (VZ) announced Thursday that it will begin selling the iPad at its Verizon retail stores on October 28. The company did not, however, give any indication about when it will carry the iPhone.

The iPad's Verizon arrival means that AT&T (T) is no longer the sole wireless carrier for the device. Moments after the deal was announced, AT&T sent out its own press release, saying that it, too, will be selling the iPads out of its retail outlets for the first time on October 28.

Verizon shares closed up 23 cents to $32.44 Thursday and AT&T closed slightly up 0.11% to $28.50. Apple, which closed up Thursday $2.17 to $302.31, was up another $2.40 in after-hours trading.

--Written by Olivia Oran in New York.



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