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.
>To follow the writer on Twitter, go to http://twitter.com/TheStreet_Tech. >To submit a news tip, send an email to: firstname.lastname@example.org.
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 Plus 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