Verizon's results topped both Wall Street's sales and EPS expectations, but slow wireless subscriber growth compared to rivalAT&T (ATT) pushed the stock down. Verizon shares declined 1.3% to close at $32.09.
Shares of Riverbed Technology climbed over 18% to close at $54.27, after the company announced its third-quarter results after Thursday's closing bell. Revenues skyrocketed 45% over the same period last year to $147.8 million.
The WAN optimization company, which also announced plans for a two-for-one stock split, posted net income of $26.6 million, or 34 cents per share, compared to $14.5 million, or 19 cents per share, in the third quarter of 2009.Riverbed's earnings performance prompted analysts from Canaccord Genuity, Wedbush and Jefferies to upgrade the stock. Vicor Corporation (VICR) also saw a huge trading day Friday, as strong third quarter earnings boosted the stock. Vicor, which makes power components and systems, increased its revenue to $68.6 million from $47.7 million during the same period last year, and saw profit rise to 38 cents a share from 4 cents a share. Shares jumped over 16.4% to close at $18.72. Cirrus Logic (CRUS) fell almost 4% Friday after a disappointing second quarter. Revenue increased 81% to $100.6 million, and adjusted profit rose to 40 cents a share from 11 cents a share during the same period last year. However, the results fell short of analysts who expected a profit of 42 cents a share on $101.8 million in revenue. The stock closed Friday at $13.22. --Written by Olivia Oran in New York.
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