Tech Winners & Losers: Intuit
Tech stocks were ending the week in the green, with the
Nasdaq
up 1.2% to 2410.
Shares of
Intuit
(INTU) - Get Intuit Inc. Report
climbed 3.6% to $31.12 after posting fourth-quarter results in line with Wall Street estimates. Jefferies raised its price target for the tax preparation software company on Friday to $34 from $33, but lowered its 2009 full-year earnings estimates to $1.89 from $1.93. Credit Suisse also raised its price target on Intuit to $40 from $35 while maintaining its rating of Outperform.
Varian Semiconductor
(VSEA)
saw its stock jump 2.9% to $34.24 after edging out analysts' expectations for the third quarter. UBS subsequently raised its price target on the company to $40 from $34; however, it lowered its 2009 full-year earnings estimates to $1.20 from $1.40.
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Shares of
Salesforce.com
(CRM) - Get salesforce.com, inc. Report
were picking up on Friday after taking a hit the day before when it guided below Wall Street's estimates for the third quarter. The stock was up 4.5% to $55.62 in recent trading, helped by a ratings upgrade by JMP Securities to market outperform from market perform.
Concur Technologies
(CNQR)
also benefitted from a ratings upgrade from Oppenheimer to outperform from perform. The firm set a price target of $55 on Concur based on improving momentum in the company's on-demand travel and expense management business. Shares were trading at $46.13, an increase of 3% .
Apple
(AAPL) - Get Apple Inc. Report
shares were up 1.3% to $176.55. The company is now selling its popular 3G iPhone in 21 new countries, bringing its total to 43 countries altogether.
