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

Earnings Bonanza: Tech Weekly Recap

NEW YORK ( TheStreet) -- I wish Michael Landon were still alive because there's only one way to describe this week in tech; bonanza, as in earnings bonanza.

Reports from tech heavyweights such as Yahoo! (YHOO - Get Report), IBM (IBM - Get Report), Google (GOOG - Get Report), Microsoft (MSFT - Get Report) and a host of others, as well a few high-profile IPOs were the talk of tech this week, along with a new CEO in Silicon Valley.

The show started off on Monday, when Yahoo! appointed Google's Marissa Mayer as its new CEO, shocking everyone. Mayer, who was employee no. 20 at the search giant, was in charge of Google's Local efforts, including Location, Maps and Local services.

There was plenty of skepticism surrounding the appointment, as Mayer has never run a public company, much less dealt with the laundry list of issues facing Yahoo!, as it tries to keep itself relevant in a constantly changing tech environment.

Yahoo! released second-quarter earnings a day later, beating Wall Street estimates, as display revenue and search revenue showed modest gains year over year.

The Sunnyvale, Calif.-based Internet giant reported a non-GAAP profit of $190 million, or 27 cents a share, on revenue of $1.081 billion, aided by a 1% rise in display revenue and a 4% rise in search revenue. Analysts polled by Thomson Reuters expected Yahoo! to report earnings of 23 cents a share on $1.095 billion in revenue

Shares of Yahoo! ended the week higher, up 1.11% to close at $15.91.


Intel (INTC) reported a second-quarter earnings beat on Tuesday, but sent a mixed picture for the rest of 2012.

The no.1 chip maker earned 57 cents a share on $13.5 billion in revenue, up from $13.03 billion in the year-ago quarter. Analysts surveyed by Thomson Reuters were looking for earnings of 52 cents a share on $13.56 billion in sales.

Despite the earnings beat, Intel lowered its guidance for fiscal 2012, saying it expects year-over-year revenue to grow between 3% and 5%, down from its prior view of high single-digit growth. For the third-quarter, Intel expects $14.3 billion in revenue, plus or minus $500 million. Analysts surveyed by Thomson Reuters had predicted the chip maker will generate $14.6 billion in revenue.

Even with lowered guidance, Intel shares manged to eke out a 1.07% gain for the week to wind up at $25.52.

1 of 3

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
EBAY $60.56 0.00%
GOOG $539.78 0.00%
IBM $171.71 0.00%
MSFT $47.45 0.00%
YHOO $43.07 0.00%

Markets

DOW 18,126.12 -36.87 -0.20%
S&P 500 2,120.79 -2.69 -0.13%
NASDAQ 5,097.9760 -8.6170 -0.17%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs