Friday's Winners & Losers: Google
Google (GOOG) - Get Report reported blockbuster earnings that blew past Wall Street's expectations.
Shares of Google jumped $89.87, or 20%, to $539.41 after the company
Street estimates for the first quarter and laid to rest fears that an economic slowdown could take a toll on its results. Google's net income for the quarter grew to $1.31 billion, or $4.12 a share, from $1 billion, or $3.18 a share, the year before. Adjusted for certain items, Google earned $4.84 a share, beating analysts' expectations of $4.52 a share. Revenue climbed 42% from a year ago to $5.19 billion.
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Online closeout retailer
Overstock.com
(OSTK) - Get Report
jumped 31.2% to $18.37. The Salt Lake City firm narrowed its first-quarter loss to $3.9 million, or 17 cents a share, from $21.4 million, or 91 cents a share, a year ago. Analysts polled by Thomson Financial were looking for an EPS loss of 32 cents.
Meanwhile, shares of
SiRF Technology
( SIRF), a San Jose, Calif., maker of GPS technology, surged 15.4% to $6.31 on news that the company's CEO, Michael Canning, resigned effective immediately. SiRF founder and Chairman Diosado Banatao will serve as interim replacement.
Shares of software company
Amdocs
(DOX) - Get Report
soared 14.6% after the company issued a strong second-quarter
and raised its guidance for the year. Second-quarter revenue grew 10% to $774.3 million, beating Street expectations of $761.7 million. Net income was up 15% to $99.9 million, and EPS, excluding items, was 58 cents, a penny better than analysts' expectations.
The company forecast full-year revenue in the range of $3.09 billion to $3.15 billion, up from its previous guidance for $3 billion and better than analysts' estimates of $3.1 billion. EPS expectations, less items, were narrowed to a range from $2.31 to $2.37 from its previous outlook of $2.29 to $2.39 and beat consensus of $2.35 a share.
In earnings,
Stryker
(SYK) - Get Report
said Thursday post close that first-quarter profit climbed 19% to $291 million, or 70 cents a share, on revenue of $1.63 billion. Results were roughly in line with analysts' estimates and a penny better on earnings per share. The company said to expect 2008 profit of $2.88 a share on 11% to 13% revenue growth, which is also in line with Wall Streets' view. Shares were trading up $1.98, or 2.9%, at $65.83.
Also, Susquehanna Financial downgraded
Pozen
(POZN)
to neutral from positive -- the stock traded down 55 cents, or 4.2%, to $12.75.
This article was written by a staff member of TheStreet.com.
