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

Tech Winners & Losers: Verizon, Riverbed

NEW YORK ( TheStreet) - Despite a strong quarter, shares of Verizon (VZ - Get Report) fell slightly Friday, while Riverbed Technology (RVBD - Get Report) 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 rival AT&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 - Get Report) 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 - Get Report) 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.

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
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
CRUS $33.66 -0.09%
RVBD $20.99 -0.05%
VZ $47.20 0.43%
VICR $11.56 -2.78%
AAPL $126.44 -0.13%

Markets

DOW 17,730.11 -27.80 -0.16%
S&P 500 2,076.78 -0.64 -0.03%
NASDAQ 5,009.2140 -3.9090 -0.08%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs