Tech stocks were mostly up Friday, along with the major market indices, as investors found better-than-expected economic data on home sales and consumer confidence.
Shares of Juniper Networks(JNPR Quote) rose $3.62, or 16%, to $26.19 after it beat expectations for its second quarter. Juniper reported net income of $120.4 million, or 23 cents a share, up from $86.1 million, or 16 cents a share, a year ago. Excluding charges, the company reported EPS of 28 cents. Revenue rose 32% to $879 million. Analysts were looking for a profit of 27 cents a share and revenue of $852.2 million.
Juniper also said it has hired head of Microsoft's(MSFT Quote) Windows and online services business, Kevin Johnson, to be the company's new CEO. Analysts at Citigroup and Friedman, Billings, Ramsey raised their rating on the stock following the earnings report. ...
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