Share This Article

Facebook LinkedIn
Twitter Reddit
Print Email
Pinterest Gmail
Yahoo
Money Morning
×
  • Invest
    • Best Stocks to Buy
    • Stock Forecasts
    • Stocks to Sell Now
    • Stock Market Predictions
    • Technology Stocks
    • Best REITs to Buy Now
    • IPO Stocks
    • Penny Stocks
    • Dividend Stocks
    • Cryptocurrencies
    • Cannabis Investing
    • Angel Investing
  • Trade
    • How to Trade Options
    • Best Trades to Make Now
    • Options Trading Strategies
    • Weekly Trade Recommendations
  • Retire
    • Income Investing Guide
    • Retirement Articles
  • More
    • Money Morning LIVE
    • Special Investing Reports
    • Our ELetters
    • Our Premium Services
    • Videos
    • Meet Our Experts
    • Profit Academy
Login My Member Benefits Archives Research Your Team About Us FAQ
  • Invest
    • Best Stocks to Buy
    • Stock Forecasts
    • Stocks to Sell Now
    • Stock Market Predictions
    • Technology Stocks
    • Best REITs to Buy Now
    • IPO Stocks
    • Penny Stocks
    • Dividend Stocks
    • Cryptocurrencies
    • Cannabis Investing
    • Angel Investing
    ×
  • Trade
    • How to Trade Options
    • Best Trades to Make Now
    • Options Trading Strategies
    • Weekly Trade Recommendations
    ×
  • Retire
    • Income Investing Guide
    • Retirement Articles
    ×
  • More
    • Money Morning LIVE
    • Special Investing Reports
    • Our ELetters
    • Our Premium Services
    • Videos
    • Meet Our Experts
    • Profit Academy
    ×
  • Subscribe
Enter stock ticker or keyword
×
5 Ways to Beat the Fed (and Crush Inflation)

Email this Article

Send with mail | ahoo instead.
Required Needs to be a valid email
Required Needs to be a valid email
Tech Stocks Carry the Stock Market Today
http://mney.co/1SI8pnb
Required Please enter the correct value.
Twitter

Tech Stocks Carry the Stock Market Today

By kdowdle, Money Morning • July 19, 2012

Start the conversation

Comment on This Story Click here to cancel reply.

Or to contact Money Morning Customer Service, click here.

Your email address will not be published. Required fields are marked *

Some HTML is OK

The stock market is trying to hold on to gains for a third consecutive day as tech stocks lead today's charge.

Investors are trying to brush off jobless claims that increased from last week and existing home sales that fell to an eight-month low.

After financials held the earnings spotlight for a week tech stocks are starting to take over. For the most part they are keeping up the positive trend set by banks.

Intel Corp. ( Nasdaq: INTC) reported second-quarter results after Tuesday's close that beat market expectations and offered strong full-year guidance. Intel stock rose more than 3% in trading yesterday but is down slightly today.

International Business Machines Corp. (NYSE: IBM) reported after yesterday's closing bell and blew past the average earnings per share estimate of $3.42 when it announced EPS of $3.51.
Yet, revenue for the second quarter fell 3% from last year to $25.8 billion, missing analysts' forecasts of $26.3 billion.

The company cited the debt crisis in Europe as one of the main factors bringing sales down but issued a positive outlook for the remainder of the year. IBM raised its 2012 profit outlook by 10 cents, to $15.10, ahead of Wall Street's median forecast of $15.06.

IBM stock rose 2.5% yesterday and was up over 3.5% midday today (Thursday.)

Editors Note: Despite these gains, not all tech stocks are winners… see which ones you must avoid. .

Verizon Communications Inc. (NYSE: VZ) reported earnings today that were in line with expectations and maintained its full-year guidance.

Verizon earned $0.64 a share, a 12.3% increase from the same period last year, and in line with what analysts' expected. Revenue came in at $28.6 billion, almost exactly what was forecast.

The company was able to add 888,000 new subscribers. This was higher than forecast but down from last year's 1.3 million in the same quarter, reflecting the industry-wide slowdown.

Verizon stock has been on a great run, up 22% in the past twelve months and it just reached a 10-year high of $46.41 on Wednesday.

Verizon shares are down 1.21% today.

Nokia Corp. (NYSE ADR: NOK) is struggling to stay alive but its stock is surging today after the company reported second-quarter earnings.

The Finnish company posted a loss of 0.08 euros, which was expected after the company lowered its guidance last month. Revenue for the quarter was 7.54 billion euros, slightly ahead of expectations but down 19% from a year ago.

So why is the stock up?

A higher cash pile and better-than-expected Lumia sales.

Lumia, the Windows 7 based smartphone, generated a million more sales than forecast and the company hopes the launch of Windows 8 will increase sales further. Nokia's balance sheet at the end of the quarter included cash of 4.2 billion euros, higher than the 3.8 billion euros expected by analysts.

2012 has been rough for the company and investors will take any good news they can. Nokia stock is down more than 60% for the year but is up 6.5% as of noon.

Microsoft Corp. (Nasdaq: MSFT) and Google Inc. (Nasdaq: GOOG) report earnings after today's close. Google should report better growth but Microsoft stock has had a better year compared to Google stock.

In 2012 Google is down 10% while Microsoft is up more than 14%.

Google expects to report EPS of $10.05 for its second quarter, up from $8.74 the previous year.

Microsoft expects to report net income of $5.23 billion, or $0.62 cents a share, down from $5.87 billion, or $0.69 a year ago. Microsoft will be hurt by a $6.2 billion write off for its 2007 acquisition of aQuantive, an online advertising agency.

Google investors will look to see if CEO Larry Page, who was been bothered by laryngitis, will participate in the shareholder call. Google may also indicate when its 2-1 stock split will occur.

Google stock is up 2.25% and Microsoft stock is up 0.73% as of noon.

The Dow Jones today was up 22 points, or 0.17%, and the S&P 500 was up 3.12 points, or 0.23%, as of noon.

Related Articles and News:

  • Money Morning: These U.S. Stocks on the Move After Better-than-Expected Earnings

  • Money Morning: Bernanke Keeps the Stock Market Waiting for QE3
  • Money Morning: Stock Market Today: Sales and Earnings Fears Push the Market Lower
  • Money Morning: Bank Earnings Lead the Stock Market Today

Join the conversation. Click here to jump to comments…

Login
guest
guest
0 Comments
Inline Feedbacks
View all comments
LIVE
Visit Money Morning Live


Latest News

January 19, 2023 • By Money Morning Stock Research Team

These Stocks Could Go To $0

January 9, 2023 • By Money Morning Stock Research Team

The Government Is Pouring $391 Billion Into These Stocks - Buy Now

December 27, 2022 • By Money Morning Staff Reports

6 IPOs in 2023 You Can’t Afford to Miss
Trending Stories
ABOUT MONEY MORNING

Money Morning gives you access to a team of market experts with more than 250 years of combined investing experience – for free. Our experts – who have appeared on FOXBusiness, CNBC, NPR, and BloombergTV – deliver daily investing tips and stock picks, provide analysis with actions to take, and answer your biggest market questions. Our goal is to help our millions of e-newsletter subscribers and Moneymorning.com visitors become smarter, more confident investors.

QUICK LINKS
About Us COVID-19 Announcements How Money Morning Works FAQs Contact Us Search Article Archive Forgot Username/Password Archives Profit Academy Research Your Team Videos Text Messaging Terms of Use
FREE NEWSLETTERS
Total Wealth Research Power Profit Trades Profit Takeover This Is VWAP Penny Hawk Trading Today Midday Momentum Pump Up the Close
PREMIUM SERVICES
Money Map Press Home Money Map Report Fast Fortune Club Weekly Cash Clock Night Trader Microcurrency Trader Hyperdrive Portfolio Rocket Wealth Initiative Extreme Profit Hunters Profit Revolution Warlock's World Penny Nation Quantum Data Profits Live Trading Alliance Trade The Close Inside Money Trader Expiration Trader Vega Burst Trader Flashpoint Trader Darknet Hyper Momentum Trader

© 2023 Money Morning All Rights Reserved. Protected by copyright of the United States and international treaties. Any reproduction, copying, or redistribution (electronic or otherwise, including the world wide web), of content from this webpage, in whole or in part, is strictly prohibited without the express written permission of Money Morning.

Address: 1125 N Charles St. | Baltimore, MD, 21201 | USA | Phone: 888.384.8339 | Disclaimer | Sitemap | Privacy Policy | Whitelist Us | Do Not Sell My Info

wpDiscuz