Shares of Yahoo surged 10% after the close Wednesday after the company’s results blew past estimates.
Yahoo’s earnings of 13 cents a share topped 11-cent forecasts, and revenues of $550 million came in well ahead of $501 million estimates.
Yahoo also raised full-year revenue guidance to $2.41-2.52 billion, topping $2.23 billion forecasts, and announced a two-for-one stock split.
Research in Motion also beat estimates, raised guidance and announced a stock split, but the high-flyer didn’t fare nearly as well, slipping 2% after hours.
Dell also gave stocks a boost after hours when it said first-quarter revenues will come in at $11.4 billion, $200 million higher than expected. Earnings of 28 cents a share will meet estimates. Dell also doubled its stock buyback program to $1.1 billion.
Stocks fell during the day on an earnings miss by Alcoa , a warning by Seagate
, and escalating violence in Iraq.
The Nasdaq fell 9 to 2050, the S&P 500 lost 7 to 1140, and the Dow dropped 90 to 10,480. Volume rose to 1.46 billion shares on the NYSE, but declined to 1.79 billion on the Nasdaq. Decliners led by a few shares on the NYSE, while advancers held a small edge on the Nasdaq. Downside volume was 65% on the NYSE, and 46% on the Nasdaq. New highs-new lows were 123-19 on the NYSE, and 141-14 on the Nasdaq.
Seagate lost 4% on its warning – but that was 15% better than its low for the day.
RF Micro recouped 5% after reaffirming guidance.
kforce surged 8% on positive comments from Raymond James.
TranSwitch , eLoyalty
, Paradyne
and IXYS
jumped after raising guidance.
Electro Scientific fell 4% after missing estimates.
Primus Knowledge plunged 26% on a warning.
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