beat estimates after the close on Tuesday, but investors appeared unimpressed.
AMD blew out 3-cent estimates with 9-cent earnings, and revenues of $1.21 billion topped $1.08 billion forecasts.
Motorola’s earnings of 17 cents a share topped estimates by 4 cents, and revenues of $8 billion beat $7.73 billion estimates.
Despite the strong results, shares of both companies slipped after hours.
Also in a very busy after hours session, PMC-Sierra
raised guidance; Checkfree
beat estimates; Applied Micro
and JDA Software
met estimates, and RF Micro
delayed its earnings report, and Looksmart
raised guidance but reported the departure of its CEO.
During the day, tech stocks continued to power higher, but the Dow fell on reports from 3M
and United Technologies
that weren’t everything investors had hoped for.
The Nasdaq rose 7 to 2147, the S&P 500 slipped 1 to 1138, and the Dow lost 71 to 10,528. Volume declined to 1.77 billion shares on the NYSE, and 2.59 billion on the Nasdaq. Advancers led 20-12 on the NYSE, and 21-10 on the Nasdaq. Upside volume was 65% on the NYSE, and 66% on the Nasdaq. New highs-new lows were 558-3 on the NYSE, and 584-6 on the Nasdaq.
gained 1% ahead of its earnings report, due out after the close on Thursday. Analysts are looking for a 15% increase in earnings to 30 cents a share.
rose on news of a possible bidding war for the company, and JDS Uniphase
surged 10% on takeover rumors.
gained 6% on new products.
soared 16% after beating estimates.
climbed 8% on a WiFi deal with Japan Telecom.
rose 5% on in-line results, while Unisys
fell after meeting estimates.
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