Tech Winners & Losers: Intuit - TheStreet

Tech Winners & Losers: Intuit

The stock climbs after a strong earnings report.
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Tech stocks were down Wednesday, along with the major marketIndices, as oil

prices spikedto a new high.

Intuit

(INTU) - Get Report

gained $1.46, or 5.4%, to $28.67after the company

beatanalysts' estimates for the third quarter and issued in-lineguidance for the current quarter. Revenue during the third quartergrew 15% to $1.31 billion and topped analysts' expectations of $1.29billion. Profit was up 21% to $444.2 million and earnings, excludingitems, were $1.39 a share. Analysts were looking for $1.33 a share.

Micron Technology

(MU) - Get Report

rose 28 cents, or 3.4%, to $8.49 afteran analyst at Deutsche Bank upgraded the stock to buy from hold andraised the price target on it to $11 from $7 based on improvingpricing trends in the DRAM memory market.

GameStop

(GME) - Get Report

shares were up 72 cents, or 1.4%, to $52.30, a dayahead of the company's first-quarter results. Analysts are expectingearnings of 35 cents a share on revenue of $1.71 billion in thequarter. For the current quarter, GameStop is expected to report EPSof 26 cents on revenue of $1.62 billion.

Garmin

(GRMN) - Get Report

shed $1.36, or 2.9%, to $46.01 after an analyst atDeutsche Bank said the company could face increased pricing pressurefor its GPS-based personal navigation devices. This year's secondquarter is unlikely to see an increase in demand for the devices,which could result in excess inventory for Garmin, said the analyst ina note.

Shares of

Hewlett-Packard

(HPQ) - Get Report

were down $1.08, or 2.3%,to $45.38 despite the company reporting a 16% growth in its bottom lineduring the second quarter due to

strongperformance in international markets. Revenue during the quarterrose to $28.3 billion, from $25.5 billion a year ago, with 70% ofsales coming from overseas. H-P had preannounced its results last weekwhen it said it will acquire technology consulting company

EDS

(EDS)

for $13.9 billion.

Analog Devices

(ADI) - Get Report

lost $1.23, or 3.5%, to $33.52 afterthe chipmaker reported its second-quarter results. Net income for thesecond quarter rose to $133.1 million vs. $125.4 million a year ago.Revenue rose 8.7% to $649.3 million and EPS, excluding items, were 44cents. Analysts were expecting a profit of 41 cents a share on revenueof $627.2 million. The company reported a gross profit margin of 61%,down from 61.2% in the first quarter.

For the third quarter, AnalogDevices guided earnings of 43 cents to 45 cents a share on $650million to $665 million in revenue. Analysts are expecting a profit of43 cents a share on sales of $638.8 million.