SAN FRANCISCO (TheStreet) – RF Micro Devices (RFMD) soared in a slightly lower market, as the high-performance radio frequency systems and semiconductor company geared up to report its second quarter earnings. Facebook (FB) - Get Facebook, Inc. Class A Report and Twitter (TWTR) - Get Twitter, Inc. Report , however, were not as lucky, giving up ground following the earnings announcements.

RF Micro jumped 9.1% to $12.05 at the close, but it fell 0.8% to $11.95 in after-hours trading, after releasing its second quarter earnings report. 

The company reported diluted earnings of 21 cents a share on revenue of $362.7 million. Wall Street was expecting RF Micro to report a higher net income of 27 cents a share on revenue of $346.2 million. RF Micro CFO Dean Priddy said in a statement that the company expects its December quarter to show "continued improvement in operating income, earnings per share, free cash flow, and return on invested capital."

RF Micro may have gotten a boost earlier in the day from TriQuint Semiconductor (TQNT) beating Wall Street's expectations for its third quarter. The reason TriQuint may be a factor in RF Micro's share price today is because the Greensboro, N.C., company earlier this year announced plans to acquire TriQuint for $1.59 billion. The deal is expected to close in the second half of this year.

Once it does, the two companies will each own roughly a 50% stake each in the newly combined company that will go by the name of Qorvo.

Facebook fell 6.1% to $75.86 at the close.

The Menlo Park, Calif., social media company took a hit after posting its third quarter earnings, despite beating analysts' expectations on both revenue and net income.  Investors apparently were spooked by Facebook's carefree attitude on spending and the less than profitable results of its recently acquired WhatsApp messaging service.

During its earnings call, Facebook's CFO Dave Wehner told analysts the company planned to increase total costs by 55% to 75% in 2015 over the previous year. He also gave some discouraging guidance that revenue in the fourth quarter was expected to increase 40% to 47%, compared to the same time last year that captured a 55% year-over-year growth rate. In other words, revenue growth will tick down while the company is planning to increase spending.

Investors may be fearing a squeeze on profit margins.

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But some market soothsayers, however, point to investors taking a short-term approach to Facebook and are failing to see its potential for far reaching growth in the next five years.

Twitter dropped 3.9% to $42.08 at the market close.

The social media company continued to take a beating from investors after reporting its quarterly results and gave weaker revenue guidance than what Wall Street was expecting. The San Francisco-based business forecast fourth quarter revenue of $440 million to $450 million -- giving a low end for its range below the $448.2 million analysts were anticipating.

Twitter's stock also fell, despite its partnership announcement with IBM (IBM) - Get International Business Machines (IBM) Report . Under this deal, New York-based Big Blue will harvest tweets collected around the world and compile them in a way to shed insight into consumer attitudes on products and brands that will be shared with IBM clients.

At the time of publication, the author held no positions in any of the stocks mentioned, although positions may change at any time.

This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.

TheStreet Ratings team rates RF MICRO DEVICES INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:

"We rate RF MICRO DEVICES INC (RFMD) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income, revenue growth, good cash flow from operations and expanding profit margins. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."

You can view the full analysis from the report here: RFMD Ratings Report