NEW YORK (
) -- Strong earnings from tech companies helped
0.8% to 2,757 in afternoon trading Friday.
rose 2.87% to $33.06 after
for the third quarter.
an adjusted profit of $2.76 billion, or 54 cents a share, up from $1.95 billion, or 38 cents a share during the year-ago period. Revenue rose 37% to $8.8 billion in the latest quarter from $6.4 billion last year.
The average estimate of analysts polled by Thomson Reuters was for earnings of 50 cents a share on revenue of $8.67 billion.
jumped 6.73% to $8.72 after posting a decline in third-quarter profit, which wasn't as steep as analysts had projected.
On Friday the company was upgraded by Feltl & Co. to a strong buy.
rose 1.82% to $351.25 as new shipments of the iPad 2 arrived in Apple stores and third-party retail locations in the U.S., according to blog
Boy Genius Report
. Apple's online store has also moved down its shipping estimates for the device to 3-4 weeks from 4-5 weeks.
Research In Motion
, meanwhile, saw shares drop 10.62% to $57.28 after its guidance for the current quarter fell short of analyst expectations.
first-quarter guidance of $1.47 to $1.55 a share on revenue of $5.2 billion to $5.6 billion, below analyst expectations of $1.65 a share on sales of $5.64 billion.
Business processes provider
fell nearly 8% after reporting that its first-quarter net income declined from the year-ago period.
The company earned 80 cents per share, compared to 98 cents per share last year.
--Written by Olivia Oran in New York.
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