(Updates from 1:50 p.m. ET with closing information.)
NEW YORK (
shares were rising 2.12% to $31.25 on Wednesday as the company announced it would be unveiling a new generation of Xbox next month.
The company sent out press invites to its Redmond, Wash., Xbox campus for "a special unveiling." Company spokesman Larry "Major Nelson" Hryb posted on
that Microsoft would be announcing something big at the event.
"On Tuesday May 21st, we'll mark the beginning of a new generation of games, TV and entertainment," Hryb wrote on the blog.
Recent rumors have suggested that the new Xbox could be online-only, requiring an always-on status to play games.
shares ticked up 0.28% to $269.94 on news reports the online retailing giant would announce its own set-top box, competing with the likes of
, Apple, and others in an increasingly crowded market.
Speaking to sources familiar with the project,
has learned that Amazon is going to announce the device this fall, allowing users to stream video over the Internet, putting Amazon's video library in front of them.
It's not yet known whether Amazon will allow competitors such as
and other services on the box, or if it will keep the box solely for Amazon's Prime video services.
shares fell 0.09% to $405.75 after the company posted
that beat Wall Street estimates but gave guidance that was sharply lower than forecast.
Cupertino, Calif.-based Apple reported second-quarter results that met analyst expectations, earning $10.09 per share on $43.6 billion in revenue as iPad sales rose 65% year over year to 19.5 million units per year. Analysts polled by
expected the tech giant to earn $10.01 per share on $42.31 billion in revenue.
For the fiscal third quarter, Apple expects revenue will be between $33.5 billion and $35.5 billion, with gross margins between 36% and 37%. Analysts were expecting $38.2 billion in sales for the third quarter.
In conjunction with the earnings beat, Apple raised its buyback program and dividend sharply, announcing it would return $100 billion to shareholders over the next three years, adding $50 billion to its repurchase program, the largest for any company in history.
shares were up 0.67% to $22.51 after the technology company
for its first quarter.
The storage giant earned 39 cents per share on revenue of $5.39 billion. Analysts were expecting 40 cents per share on $5.42 billion in sales. The company also announced a $1 billion buy back program for 2013.
EMC reaffirmed its 2013 outlook, saying it expects to earn $1.85 per share on $23.5 billion in sales for the full year.
: MSFT closed up 3.8% at $31.76, AMZN was unchanged at $268.78, AAPL was flat at $405.46 and EMC ended the day 1% higher at $22.52.
Written by Chris Ciaccia in New York