Tech stocks were mostly up Wednesday boosted by strong earnings reports from sector giant
and storage maker
was up $1.11, or 8.9%, to $13.57 after it beat analysts' expectations for the second quarter. The company earned $377.5 million, or 18 cents a share, for the quarter vs. $334.4 million, or 16 cents a share a year ago. Excluding charges, EMC earned 24 cents a share, 7 cents higher than consensus. Revenue grew 18% to $3.67 billion and was above Street expectations.
gained $1.54, or 4.8%, to $33.36 after it reported
in its wireless and broadband divisions though revenue fell short of expectations.
Net income rose to $3.8 billion from $2.9 billion the year before. Excluding expenses, AT&T said it earned 76 cents a share, matching analysts' estimates. Revenue was up 4.7% to $30.9 billion but fell short of the $31.1 billion consensus.
Wireless communications services company
added $4.68, or 9.9%, to $52.05 after it reported second-quarter profit up by 85%.
The company posted net income of $155.2 million or 88 cents per share, vs. $84.1 million, or 47 cents a share a year ago. Revenue rose 40% to $1.1 billion. Analysts polled by Thomson Financial had been expecting earnings of 64 cents a share on revenue of $1.05 billion.
were up $4.30, or 2.6%, to $166.32 following AT&T's comments around strong demand for the company's newly launched 3G iPhone. Apple shares are also recovering from the decline following the company's third-quarter results Monday where weak guidance and concerns around CEO Steve Jobs' health took a toll on the company's stock.
was trading up $1.59, or 2.3%, to $69.56 ahead of the company's second-quarter results. Analysts are expecting earnings of 26 cents a share on revenue of $3.95 billion, compared with earnings of 19 cents a share on revenue of $2.88 billion a year ago. For the third quarter, analysts expect Amazon.com to post EPS of 28 cents on revenue of $4.23 billion.
were down $2.57, or 6.8%, to $35.40 after its
second-quarter top line
showed lower-than-expected growth.
Revenue grew 53.7% to $456.1 million, from $296.8 million a year ago. Analysts were looking for a top line of $458.6 million. Net income also rose 53% to $52.3 million. Excluding special items, EPS was 23 cents, in line with analysts' expectations. An analyst at Citigroup downgraded the stock to hold from buy following the results.
lost $2, or 7.2%, to $25.64 following its
. Broadcom topped analysts' estimates but said it will increase its spending in the current quarter and expects lower profits.