Citrix Soars as Symantec, Nvidia Plunge
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Earnings reports continue to paint a mixed picture of the health of the technology sector, as Thursday's batch of quarterly results demonstrated once again.
Symantec (NASDAQ: SYMC), Akamai (NASDAQ: AKAM), LSI (NYSE: LSI) and Nvidia (NASDAQ: NVDA) all fell around 10 percent each on disappointing quarterly results, even as Citrix (NASDAQ: CTXS) soared 20 percent to a 10-year high on a bullish sales outlook.
Nvidia — the worst-performing tech stock in the S&P 500 this year — weighed on chip stocks after the company cut its revenue forecast. AMD (NYSE: AMD), Applied Materials (NASDAQ: AMAT) and Micron (NASDAQ: MU) were a few of the chip stocks that followed Nvidia lower.
Compellent (NYSE: CML) jumped 16 percent on a strong earnings report, while Quantum (NYSE: QTM) plunged 24 percent after missing estimates.
Research in Motion (NASDAQ: RIMM), Microsoft (NASDAQ: MSFT), Qualcomm (NASDAQ: QCOM) and Google (NASDAQ: GOOG) were a few that managed small gains on the day, while Sony (NYSE: SNE) surged 8 percent on its results.