Updated from 2:25 p.m. EDT with new stock prices
Tech stocks pulled back Friday along with the major market indices following economic data that indicated consumer confidence fell to a 28-year low.
rose $2.22, or 6.1%, to $38.65 after it
for the fourth quarter.
Revenue rose 11.3% to $466.9 million, topping the Street's expectations of $460.3 million. Net income jumped 54.5% to $97 million. Excluding special items, EPS was 63 cents. Analysts were looking for EPS of 51 cents.
Business software and IT services company
gained 38 cents, or 4.5%, to $8.89 after it narrowed its bottom line
in the fourth quarter
while benefiting from a surge in licensing revenue.
Revenue increased 8% to $338.9 million. Four analysts polled by Thomson Reuters were looking for $331.5 million. Net income was $61.2 million, or 23 cents a share, vs. $67.5 million, or 47 cents a share, a year ago.
added $1.90, or 4.2%, to $46.90. Oppenheimer & Co. analyst Ittai Kidron raised his price target on the stock to $56 from $52 and reiterated his outperform rating.
As the 3G smartphone arms race escalates, Qualcomm, which makes chips, will benefit, said the analyst. Large growth funds now on the sidelines are increasingly likely to add to their positions when they see a pickup in Qualcomm's earnings, said Kidron.
shed $1.63, or 6.9%, to $22.07 after an analyst at Credit Suisse in Hong Kong downgraded the stock to neutral from outperform. He said he saw limited upside in the stock after a recent rally.
( ERTS) lost $1.92, or 3.7%, to $49.60.
EA is in the midst of a $2 billion hostile takeover of its smaller rival
. EA's tender offer for Take-Two is set to expire midnight. Meanwhile, EA
in the top 10 video games sales chart for April.
fell 76 cents, or 2.4%, to $31.17 following research notes that said the company's listings growth is solid but its conversion rates (i.e. the number of listings that are converted to sales) are down. Revenue growth will modestly trail earnings growth as revenue per listing continues to decline, said an analyst with Pacific Crest in a note.