Tech stocks were flying Tuesday, as the major market indices gained from a drop in oil prices, positive home-sales and data suggesting an increase in consumer confidence.
were up $4.72, or 8.8%, to $58.44 after it beat Wall Street's second-quarter expectations. The German business software maker reported
of 20% to $4.55 billion, excluding an $81 million writedown from the acquisition of Business Objects, a developer of business intelligence software. Analysts were expecting revenue of $4.49 billion. Excluding special items, EPS was 65.7 cents vs. consensus estimates of 63 cents.
also rose 69 cents, or 3.3%, to $21.41 following rival SAP's comments that U.S. business sentiment was better-than-expected in the quarter.
was up 36 cents, or 6.2%, to $6.12 after the company said Chairman Serge Tchuruk and Chief Executive Patricia Russo will step down. The duo was seen as the architects of the $11.4 billion merger between Alcatel and Lucent Technologies in 2006.
IT security company
gained $1.27, or 6.8%, to $19.98 after it reported strong second-quarter results and raised its outlook for the year. The company posted a loss of $8.2 million compared to net income of $2.1 million, a year ago, mainly due to charges related to its acquisition of SurfControl last year. Excluding charges, it posted net income 37 cents a share, vs. 22 cents a share, the year-before. Analysts polled by
were expecting earnings of 31 cents a share.
Second-quarter revenue rose to $73 million, and was higher than consensus estimates of $83.5 million. The company expects 2008 revenue, excluding charges, to be in the range of $340 million to $345 million, and earnings, excluding charges, in the range of $1.30 to $1.35 a share. Analysts are expecting revenue of $335.17 million and EPS of $1.24 a share.
was up $1.40, or 3%, to $47.46 ahead of its first-quarter results. Analysts are expecting a loss of 34 cents a share on revenue of $639.8 million vs. a loss of 22 cents a share on revenue of $431 million a year ago. For the second quarter, analysts expect the company to report earnings of 10 cents a share on revenue of $1.14 billion vs. earnings of 27 cents a share on revenue of $936 million the year before.
lost $2.21, or 5.5%, to $37.72 after it reported lower profits and cut its outlook for the year. Sony's cell phone venture, Sony Ericsson, took a hit as it faced increased price competition, products that failed to catch on with the consumer and higher research and development costs.