Updated from 1:48 p.m. EST with new stock prices
Tech stocks slipped into the red along with the major market indices on sluggish economic data, including a lower-than-expected reading of fourth-quarter gross domestic product and an increase in weekly jobless claims.
added $6.95, or 5.7%, to $129.91 after the company said it is
on track to meet its 10-million iPhones sales this year target and presented an upbeat outlook of its business at a Goldman Sachs investor conference Wednesday.
rose $4.84, or 12.9%, to $42.28 as it narrowed its loss in the fourth quarter. The company reported a loss of $18.1 million, or 27 cents a share, compared with a loss of $45.6 million, or 69 cents a share, a year ago. Revenue in the quarter rose 36.6% to $ 429.8 million. Analysts were expecting a loss of 17 cents a share on revenue of $429.2 million. Net customer additions were 152,000, resulting in 2.86 million customers at the end of the quarter. Churn for the quarter was 4.2%.
A Leap Wireless competitor,
, also was up 85 cents, or 5.7%, to $15.85 after it said it passed the 4 million subscriber mark in January, although its fourth-quarter results fell short of Street estimates. The company reported a loss of $47 million, compared with a loss of $17 million the year before. Excluding charges, net income would have been $36 million, or 10 cents a share. Revenue in the quarter rose 30% to $591 million. Analysts were expecting EPS of 12 cents on revenue of $608 million.
gained $9.04, or 17.2%, to $61.66 after it
beat Street expectations for the fourth quarter and raised its guidance for the current fiscal year. The company reported net income of $7.4 million, or 6 cents a share, from $516,000, or break-even on a per-share basis, a year ago. Revenue grew 50.4% to $216.9 million in the quarter. Analysts were looking for EPS of 4 cents on revenue of $209.2 million. For the current fiscal year, Salesforce.com raised revenue guidance to a range of $1.03 billion to $1.035 billion, from previous projections for $1 billion to $1.02 billion. EPS is forecast to be 32 cents or 33 cents. Analysts were projecting revenue of $1.028 billion and earnings of 32 cents a share.
was down $3.02, or 4.3%, to $67.85 following a research note from an analyst at Oppenheimer. A slowdown in the retail sector is causing a negative impact on online sales growth, the analyst said.
Hard disk drives maker
fell $1.24, or 5.3% to $22.35 after the stock was downgraded to hold from buy by a Citigroup analyst on the belief that the industry is reaching its cyclical peak and a slowdown in the economy could impact the demand for Seagate's products from businesses.
also fell $1.61, or 4.7%, to $32.36 on a similar downgrade from Citigroup.
lost 86 cents, or 9.6%, to $8.09 after the company swung to a loss in the fourth quarter and eliminated its dividend. Sprint reported a loss of $29.5 billion, or $10.36 a share, compared with a net income of $261 million, or 9 cents a share, a year ago. Adjusted EPS was 21 cents a share, 3 cents better than analysts' expectations but lower than the 29 cents reported a year ago. The company recorded a noncash goodwill charge of $29.7 billion in the quarter. Revenue declined to $9.8 billion from $10.4 billion the year before. Analysts were expecting revenue of $9.92 billion.