missed earnings estimates by a penny after the close on Thursday, but better than expected revenues and guidance sent the company’s stock modestly higher after hours.
Earnings of 23 cents a share missed estimates of 24 cents, but $8.07 billion revenues beat the $7.87 billion consensus, and the company boosted September quarter and full-year guidance above analyst estimates.
Microsoft stock edged 1% higher after hours, capping a day in which tech stocks fell sharply on IBM’s
The Nasdaq plunged 49 to 1698, the S&P 500 fell 12 to 981, and the Dow lost 43 to 9050 despite several better than expected blue chip earnings reports. Volume declined to 1.65 billion shares on the NYSE, and 1.92 billion on the Nasdaq. Decliners led 25-7 on the NYSE, and 25-6 on the Nasdaq. Downside volume was 78% on the NYSE, and 90% on the Nasdaq. New highs-new lows were 45-25 on the NYSE, and 117-10 on the Nasdaq.
After the close, Scientific Atlanta
beat estimates. Xilinx
During the day, Nokia
plunged 20% on a warning.
surged after beating estimates.
, Internet Security
fell on their earnings reports.
, off 2.6%, pledged to support PeopleSoft customers. PeopleSoft
edged higher on the day.
chose the wrong day for an IPO, finishing down slightly from its $19 open.
Market Commentary: For our free daily market commentary and technical analysis, please visit the InternetStockReport.com home page at: