This Day On The Street
Continue to site
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

iPad Mini on Deck?: Tech Weekly Recap

Cloud computing company Workday (WDAY - Get Report) soared on its trading debut on Friday, as investors flocked to the latest technology offering.

Shares opened for trading at $48.05, a jump of 72% above its $28 offering price. For the six months ended July 31, Workday had sales of $119.5 million, up 118% ($54.8 million) from the year-earlier period. Though revenue is growing exceptionally fast, losses are also growing. Losses in the same period widened to $1.40 share from $1.27.

Workday's shares closed the week at $48.69, a 74% gain over its IPO price.

Amazon (AMZN) CEO Jeff Bezos said in an interview what Wall Street has known all along. It doesn't make any money from its devices; it sells them at cost.

In an interview with the BBC, Bezos said the Kindle Fire and Paperwhite e-reader don't turn a profit, but they do break even.

Shares of Amazon plunged 6.2% this week to finish at $242.36.

AMD (AMD - Get Report) fell after it reported weaker-than-expected revenue on Thursday, as the PC market continues to decline.

AMD expects third-quarter revenue of approximately $1.27 billion, down 10% sequentially. AMD previously expected revenue to fall 1%, plus or minus 3%, sequentially. Analysts surveyed by Thomson Reuters were looking for sales of $1.38 billion.

"The lower than anticipated preliminary revenue results are primarily due to weaker than expected demand across all product lines caused by the challenging macroeconomic environment," AMD said in a press release.

AMD, which reports official results Oct. 18, fell 15% this week to close at $2.74.

Next week earnings season is in full swing, with reports from big names such as Amazon (AMZN), IBM (IBM), Google (GOOG), Microsoft (MSFT) and eBay (EBAY), which recently refreshed its Web site, making it cleaner and easier to navigate.

Interested in more on eBay? See TheStreet Ratings' report card for this stock.

-- Written by Chris Ciaccia in New York

>Contact by Email.

3 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
Submit an article to us!
AAPL $129.37 0.33%
AMD $2.34 1.10%
NFLX $554.66 -0.43%
S $5.25 0.57%
WDAY $90.52 1.10%


DOW 18,092.98 +68.92 0.38%
S&P 500 2,117.61 +9.32 0.44%
NASDAQ 5,031.8070 +26.4160 0.53%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs