NEW YORK (TheStreet) -- The broader market trended higher except for the Nasdaq, which lagged behind due to tech companies struggling to post solid earnings reports.
Google (GOOG) and Microsoft (MSFT) were the biggest contributors to Friday's down day in technology. Both companies missed top- and bottom-line estimates Thursday but the former held up much better than the latter once the markets opened Friday.
On CNBC's "Fast Money" TV show, Guy Adami said Google had a much better story than what it first looked like on Thursday. He added he was looking for Google to hold support at $850 and it didn't even get close to that mark, rallying hard throughout Friday, and he thinks that will continue through next week.
Josh Brown said he really liked the tech giant and would be looking to add more. He also added that the only real sour part of the earnings report was that Google didn't make as much money on mobile ad space, but the sheer volume of mobile ads and the rate they are increasing should offset going forward.While he was forgiving on Google, the tables turned quickly for Microsoft. He said that the software giant's report was "a bomb" and that this quarter looked like an inflection point for the company's shares to go lower, citing that management did not sound optimistic about its core business. He also called out investors who bought the stock for its dividend, saying those who bought it for that reason just lost two years' worth of gains with today's double-digit percentage selloff. Brian Kelly thought that in general the dividend perspective could be scary for certain investors. He said that as investors shifted out of bonds because of the low yields in favor of dividends, the volatility could be much harder to stomach in events such as Microsoft's selloff. As they shifted focus to Netflix (NFLX), which reports earnings on Monday, Melissa Lee, the show's host, wanted to know if traders should buy, hold or sell the content giant ahead of the event. Adami said he was going to go out on a limb and say that you should buy it. Tim Seymour said that he was really pleased with the content from the company, but the valuation was too hard gauge and therefore called it a hold. Kelly felt similar and also marked Netflix as a hold. Brown said the results would be a coin flip.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
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
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV