RealTime IT News

AMAT, NetApp Beat The Street

Applied Materials and Network Appliance reported solid results after the close on Tuesday, but investors had mixed feelings about the news.

AMAT's earnings of 17 cents a share beat Wall Street estimates by a penny. Revenues climbed 14.5% to $1.78 billion, topping $1.74 billion forecasts. New orders fell 36% sequentially and gross margins came in just under estimates at 44.3%, but the results were good enough for a 1% gain in AMAT shares after hours.

NetApp, meanwhile, met earnings estimates and beat revenue forecasts, but the stock fell more than 10% after hours after the company's revenue guidance came in at the low end of estimates.

Also after the close, Audible plunged after missing revenue estimates. Jupitermedia , publisher of this Web site, and Photronics beat estimates.

Stocks rose during the day on better than expected retail sales and manufacturing data.

The Nasdaq climbed 6 to 2089, the S&P 500 added 3 to 1210, and the Dow rose 46 to 10,837. Volume rose to 1.53 billion shares on the NYSE, and 2.1 billion on the Nasdaq. Advancers led 17-15 on the NYSE, while decliners led 16-15 on the Nasdaq. Upside volume was 61% on the NYSE, and 67% on the Nasdaq. New highs-new lows were 296-17 on the NYSE, and 124-28 on the Nasdaq.

Agilent climbed 1.5% despite warning.

Mamma.com soared 36% on takeover speculation.

Amtech soared on its results, and Cincinnati Bell climbed 6% on its results.

Apple jumped 4.5% on a Merrill Lynch upgrade and $102 price target.