Akamai Jumps, Cisco Systems Falls After Earnings (XLK, CSCO, AKAM, AAPL, TQNT, TLEO, GRPN)
Tech. stocks are trading mixed on Thursday with pressure coming from Cisco Systems, Inc. (NASDAQ:CSCO) following its in-line fiscal second quarter results, while Akamai Technologies, Inc. (NASDAQ:AKAM) shares soared on robust fourth-quarter earnings. Technology SPDR (ETF) (NYSEARCA:XLK) is up 0.21% to $28.03.
Cisco Systems, Inc. (NASDAQ:CSCO) shares are down 2.16% to $19.99 after the company said hat it earned 47 cents a share on revenue of $11.5 billion in its Q2, compared to analysts’ target of 43 cents a share on revenue of $11.2 billion. The company boosted its quarterly cash dividend by 33%, or 2 cents a share, to 8 cents a common share.
Akamai Technologies, Inc. (NASDAQ:AKAM) shares soared over 11% to $38.25 after the company said that it earned e 45 cents a share on revenue of $324 million in its Q4, compared to analysts’ target of 40 cents a share on $312 million in revenue.
In the large cap space, Apple Inc. (NASDAQ:AAPL) shares continued to edge higher and rose 1.80% to $845.20 after hitting a new life time high of $487.20. The company’s market cap has reached over 452 billion.
TriQuint Semiconductor (NASDAQ:TQNT) shares are down over 9% to $6.22 after the company forecasted in line outlook for its first-quarter. The company excluding some items of 1 cent to 3 cents a share, compared with the average analyst estimate of 3 cents.
Taleo Corp (NASDAQ:TLEO) shares soared 17% to $45.54 after Oracle Corporation (NASDAQ:ORCL) has reached an agreement to buy the company for $46 a share, an 18 percent premium to the Dublin, California- based company’s closing price before the deal was announced.
Groupon Inc (NASDAQ:GRPN) shares slumped 10.30% to $22.05 after the company posted quarterly loss after going public. The company reported a loss of $9.8 million, or 2 cents a share, on revenue of $506.5 million, missing analysts estimates of a profit of 3 cents a share on revenue of $475 million in the quarter.
