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Tech Winners & Losers: Verizon, Riverbed

NEW YORK (TheStreet) - Despite a strong quarter, shares of Verizon (VZ) fell slightly Friday, while Riverbed Technology (RVBD) saw its stock soar after earnings.

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.



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

>To submit a news tip, send an email to: tips@thestreet.com.

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