Google, AMD, EMC: Tech Winners

Tech stocks climb on earnings reports and buyout rumors.
Publish date:

NEW YORK (TheStreet) -- Earnings announcements pushed Google (GOOG) - Get Report and Advanced Micro Devices (AMD) - Get Report upwards in afterhours trading, while buyout rumors sparked huge upticks for EMC (EMC) and Yahoo! (YHOO)

Google beat

the street, posting huge third-quarter earnings Thursday, as net income rose 31% to $2.17 billion or $6.72 per share, compared to $1.64 billion or $5.13 per share in the same period last year.

Revenue increased 23% year over year to $7.29 billion.

Google shares climbed more than 9% in after-hours trading.


AMD reported a net loss

of $118.0 million and a net loss per share of 17 cents. Revenue grew 16% from the same period last year to $1.62 billion.

Shares rose more than 6.3% in afterhours trading.

In non-earnings news, storage equipment maker EMC closed up 4.48% today after

rumors circulated

that it could be acquired by


(ORCL) - Get Report

. Oracle shares fell 0.94% to close at $28.33.

Reports of a

Yahoo! buyout

pushed the search giant's shares up 4.46% to close at $15.93. According to a report in the

Wall Street Journal

, AOL and a pool of investors are in preliminary talks to purchase Yahoo!.

Shares of Yahoo! closed up nearly 5% to $15.93 Thursday; in after-hours trading, the stock was up another 11 cents.

Verizon Wireless

(VZ) - Get Report

announced Thursday that it will begin

selling the iPad at its Verizon retail stores

on October 28. The company did not, however, give any indication about when it will carry the iPhone.

The iPad's Verizon arrival means that


(T) - Get Report

is no longer the sole wireless carrier for the device. Moments after the deal was announced, AT&T sent out its own press release, saying that it, too, will be selling the iPads out of its retail outlets for the first time on October 28.

Verizon shares closed up 23 cents to $32.44 Thursday and AT&T closed slightly up 0.11% to $28.50. Apple, which closed up Thursday $2.17 to $302.31, was up another $2.40 in after-hours trading.

--Written by Olivia Oran in New York.

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