Apple shares briefly fell below $400 for the first time since December 2011 on the back of weaker-than-expected-results from one of its suppliers, Cirrus Logic (CRUS). Apple declined 5.5% on the day to $402.80.
Google (GOOG) shed 1.4% to $782.56 after Microsoft (MSFT - Get Report) came to an agreement with Foxconn parent company Hon Hai that said all Android or Chrome devices produced by Hon Hai group manufacturers would result in royalty payments to the world's largest software maker. The news was disappointing to Google, which is in a bitter patent war with Microsoft over the technologies.
Google reports first-quarter earnings after the bell on Thursday.eBay (EBAY - Get Report) lost 1.6% to $56.10 ahead of its first-quarter earnings call held after the close. The company was expected to post quarterly profit of 62 cents a share on revenue of $3.76 billion. Yahoo! (YHOO - Get Report) dipped 0.4% to $23.70 after the company's first-quarter earnings call revealed the core of its business continues to take a long time to turn around, taking some off shine off CEO Marissa Mayer. Intel (INTC - Get Report) bucked the trend of technology declines as the stock recovered from an early-morning sell-off after the world's largest semiconductor maker posted earnings that fell below forecasts. The company also projected revenue broadly in line with Wall Street's forecast of $12.85 billion. Shares closed on a gain of 0.1% to $21.93. Top PC maker Hewlett-Packard (HPQ - Get Report) skid 2.62% to $20.49 after Intel's disappointing numbers. Written by Andrea Tse in New York >To contact the writer of this article, click here: Andrea Tse.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts