RealTime IT News

Tech Giants Paint Mixed Picture

Google , Microsoft and AMD had mixed messages for investors after the market close on Thursday.

Google shares tumbled 5% after the company delivered a rare earnings miss, pressured by higher operating and marketing expenses. Google's pro forma earnings of $3.56 a share were 3 cents shy of analysts' estimates, while sales of $2.72 billion topped $2.68 billion Thomson Financial forecasts.

Microsoft shares slipped 1% on a report that contained few surprises. The software giant's sales of $13.37 billion were $100 million better than expected, while pro forma earnings of 39 cents a share and current quarter and fiscal 2008 guidance were in line with forecasts.

AMD continued to show the effects of a price war with Intel , reporting a loss of $600 million, or $1.09 a share, 24 cents worse than expected. But revenues of $1.28 billion were way above $1.26 billion expectations, sending the chipmaker's shares 2% higher after hours.

The Dow notched its first-ever close above 14,000 during the day on strong results from IBM , which surged 4% on the day. But eBay shares slipped on a decline in listings.

Avici soared by a third on its results, and Juniper , SAP , Avocent , Citrix and Skyworks were other earnings gainers.

Clearwire soared 34% on a deal with Sprint .

The Nasdaq gained 20 to 2720, the S&P 500 rose 7 to 1553, and the Dow climbed 82 to 14,000. Volume declined to 3.16 billion shares on the NYSE, and 2.24 billion on the Nasdaq. Advancing issues led by a 19-12 margin on the NYSE, and 18-11 on the Nasdaq. Upside volume was 59% on the NYSE, and 72% on the Nasdaq. New highs-new lows were 257-110 on the NYSE, and 207-100 on the Nasdaq.