Thursday's Tech Winners & Losers - TheStreet

Thursday's Tech Winners & Losers

Strong earnings reported by IBM and Juniper boost the tech sector.
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Two of the biggest tech names --

Microsoft

(MSFT) - Get Report

and

Google

(GOOG) - Get Report

-- released earnings results Thursday night, with the two moving in opposite directions.

Microsoft delivered a solid fourth quarter, with the Redmond, Wash.-based software giant saying revenue grew to $13.37 billion, a 13% increase from a year earlier, and ahead of analysts' expectations of $13.27 billion. Including the massive 8-cent-a-share charge for Xbox 360 warranty coverage, the company's net income rose to $3.04 billion, or 31 cents a share, from $2.83 billion, or 28 cents a share, a year earlier. Excluding the charge, EPS of 39 cents met Street estimates. Mister Softee was trading at 31.01 in after-hours trading, off 1.59% from its Thursday close.

Meanwhile, Google stunned the Street by announcing a second-quarter earnings shortfall. The Mountain View, Calif., Net giant made $3.56 a share on a non-GAAP basis. Net revenue, excluding the money Google shares with its advertising partners, was $2.72 billion. Analysts surveyed by Thomson Financial were looking for a $3.59-a-share profit on net revenue of $2.68 billion. Shares were off almost 8% in postclose trading as a conference call was under way, falling to 505.71.

In regular trading Thursday, other tech stocks moved higher, buoyed by strong earnings news from stalwarts

IBM

(IBM) - Get Report

and

Juniper Networks

(JNPR) - Get Report

.

Reporting after the bell Wednesday, Big Blue reported net income of $2.26 billion, or $1.55 a share, compared to $2 billion, or $1.30 a share, in the year-ago period. Analysts polled by Thomson Financial expected earnings of $1.47 a share. On Thursday, investors responded by lifting IBM's stock $4.78, or 4.3%, to $115.86 at the close.

Juniper jumped 14% after the network equipment company posted in-line second-quarter earnings and said that third-quarter revenue would be better than expected. The company posted adjusted earnings of $116 million, or 20 cents a share, on revenue of $664.9 million. Analysts polled by Thomson Financial expected earnings of 20 cents a share on revenue of $649.6 million.

For the third quarter, the company expects earnings of 21 cents a share on revenue of $695 million to $715 million. Analysts project earnings of 21 cents a share on revenue of $677 million. Shares closed up $3.33 to $30.06.

Elsewhere,

Clearwire

(CLWR)

vaulted 34.38% after the wireless broadband company said that it would team up with

Sprint Nextel

(S) - Get Report

to build a nationwide mobile broadband network employing WiMax technology. "The WiMax network is being designed to deliver mobile broadband services in urban, suburban and rural markets, and enable significantly greater depth and breadth of services," Sprint Nextel said in a press release. Shares of Clearwire were trading up $8.52 to $33.75 at the close.

Meanwhile,

Avici Systems

(AVCI)

soared 35.27% after the networking company posted second-quarter results that impressed investors and boosted full-year revenue guidance significantly. The company posted adjusted earnings of $12.7 million, or 86 cents a share, on revenue of $29.6 million.

Looking ahead, Avici now sees full-year revenue of $110 million to $125 million, well above its previous guidance of $50 million to $60 million. Shares closed up $2.97 to $11.39.

Citrix Systems

(CTXS) - Get Report

rose 5.33% after it posted better-than-expected second-quarter revenue. The software company, which did not release earnings information because it is still completing its stock-option based restatements, posted revenue of $334.4 million. Analysts expected revenue of $320.6 million. Looking ahead, Citrix sees third-quarter revenue of $335 million to $343 million, above the $327.3 million that analysts project. Shares ended up $1.88 to $37.18 on the day.

Despite posting second-quarter earnings that topped expectations, shares of

Cypress Semiconductor

(CY) - Get Report

slid 1.49%. The chip company posted adjusted earnings of $26.8 million, or 16 cents a share, on revenue of $372.8 million. Analysts expected earnings of 15 cents a share on revenue of $353.9 million. Shares closed down 38 cents to $25.14.

As for the broader technology sector, the Nasdaq 100 closed up about 15 points to almost 2053.