Thursday's Tech Winners & Losers
Tech stocks were down Thursday following mixed earnings reports that included a major disappointment from Finnish phone company
Nokia
(NOK) - Get Report
.
IBM
(IBM) - Get Report
gained $2.42, or 2%, to $122.89 after it delivered a first-quarter
Wednesday. Net income rose 26% to $2.32 billion, or $1.65 a share. Analysts were looking for earnings of $1.45 a share. Revenue rose 11.4% to $24.5 billion, beating Street estimates of $23.7 billion.
Dell
(DELL) - Get Report
added 38 cents, or 2%, to $19.09 after data from industry research firm
Gartner
showed Wednesday that the company grabbed
of the PC market share in the U.S. during the first quarter. Dell boosted shipments 15.7% year-on-year to bag 31.4% of the U.S. market vs. 27.9% a year ago.
Semiconductor company
Altera
(ALTR) - Get Report
, which makes programmable chips, rose $1.83, or 9.5%, to $21.04 after the company
outpaced Wall Street estimates
for the first quarter, and raised its sales outlook. Altera said revenue in the current quarter is likely to be in the range of $339.5 million and $349.5 million, topping analysts' expectations of $336.6 million in sales.
Shares of IT security company
Check Point Software
(CHKP) - Get Report
rose 51 cents, or 2.3%, to $22.79 after the company
for the first quarter as profit rose 67%.
Nokia fell $4.81, or 14.3%, to $28.88 after the company reported
and offered a warning related to the expected impact of an economic slowdown on its business. Nokia reported handset shipments of 115.5 million in the quarter, matching expectations -- but the company's market share fell to 39% from 40%.
Nokia's results sent handset maker
LM Ericsson
(ERIC) - Get Report
down 95 cents, or 4.6%, to $19.71
eBay
(EBAY) - Get Report
shed $1.42, or 4.4%, to $30.69 after the company reported
in the number of active users in the first quarter. Net income for the quarter grew 22% to $460 million and EPS, excluding charges, was 42 cents a share. eBay revenue rose 24% from a year earlier to $2.19 billion, beating consensus estimates of 39 cents a share on revenue of $2.08 billion.
But active users for the quarter rose only 1% from the previous quarter to 82.9 million, while the number of new listings was up 4% from the previous quarter to 588.5 million.
