Microsoft, AMD, Riverbed: Premarket Movers
NEW YORK (TheStreet) -- Microsoft (MSFT) was a leader in premarket trading on Friday after the company's better-than-expected third-quarter earnings.
The software giant on Thursday reported earnings of 60 cents a share on $17.41 billion in revenue. Analysts polled by Thomson Reuters had expected earnings of 57 cents a share on $17.16 billion in revenue.
Microsoft said that business PC upgrades helped drive Windows revenue. The Redmond, Wash.-based firm cited broad-based growth geographically, noting particular strength in Europe.
Shares of Microsoft rose 3.64% to $32.14 on Friday.
AMD (AMD), which easily beat Wall Street's forecasts in its first-quarter results on Thursday, enjoyed a more modest gain. Shares of the No. 2 chipmaker were up 2.01% to $8.13 in premarket trading. For the second quarter, AMD said it expects revenue to increase 3% sequentially, plus or minus 3 percentage points. eBay (EBAY) shares were up 0.94% to $41 on Friday, still basking in the glow of the company's strong second-quarter results, released on Wednesday. The online auctioneer's shares closed up 13.24% on Thursday. Riverbed (RVBD), however, was a major laggard as the company's stock tumbled 23.55% to $21.30 on Friday. The networking specialist fell short of Wall Street's revenue forecast in its first-quarter results, released late on Thursday. Riverbed was the most active Nasdaq stock in premarket trading on share volume of 1,599,911. Shares of big data specialist Splunk (SPLK), which began trading as a public company on Thursday, were flat in premarket trading. Splunk's shares closed up 108.71% in its public debut. --Written by James Rogers in New York. >To follow the writer on Twitter, go to http://twitter.com/jamesjrogers. >To submit a news tip, send an email to: tips@thestreet.com. Check out our new tech blog, Tech Trends. Follow TheStreet Tech on your wireless devices.Select the service that is right for you!
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