Tech Winners & Losers: EMC - TheStreet

Tech stocks were mostly up Wednesday boosted by strong earnings reports from sector giant

AT&T

(T) - Get Report

and storage maker

EMC

(EMC)

.

EMC

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.

AT&T

gained $1.54, or 4.8%, to $33.36 after it reported

strong second-quarter growth

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

NII Holdings

(NIHD) - Get Report

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.

Shares of

Apple

(AAPL) - Get Report

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.

Amazon.com

(AMZN) - Get Report

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.

Shares of

VMware

(VMW) - Get Report

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.

Chip maker

Broadcom

(BRCM)

lost $2, or 7.2%, to $25.64 following its

second-quarter results

. Broadcom topped analysts' estimates but said it will increase its spending in the current quarter and expects lower profits.