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Thursday's Tech Winners & Losers

IBM's earnings beat lifts shares.

Tech stocks were down Thursday following mixed earnings reports that included a major disappointment from Finnish phone company


(NOK) - Get Nokia Corporation Sponsored American Depositary Shares Report



(IBM) - Get International Business Machines Corporation Report

gained $2.42, or 2%, to $122.89 after it delivered a first-quarter

earnings surprise

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) - Get Dell Technologies Inc. Class C Report

added 38 cents, or 2%, to $19.09 after data from industry research firm


showed Wednesday that the company grabbed

nearly a third

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.

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Semiconductor company


(ALTR) - Get Altair Engineering Inc. 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 Check Point Software Technologies Ltd. Report

rose 51 cents, or 2.3%, to $22.79 after the company

beat analysts' expectations

for the first quarter as profit rose 67%.

Nokia fell $4.81, or 14.3%, to $28.88 after the company reported

shrinking market share

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 Ericsson Report

down 95 cents, or 4.6%, to $19.71


(EBAY) - Get eBay Inc. Report

shed $1.42, or 4.4%, to $30.69 after the company reported

tepid growth

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.