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Google Bombs, Intel Beats — Thursday’s IP Market Recap

Financial shares also made news on Thursday

   
Google Bombs, Intel Beats — Thursday’s IP Market Recap

IPMarketRecap Google Bombs, Intel Beats    Thursday's IP Market RecapA pair of technology sector giants headed in opposite directions after the bell rang to close out Thursday trading.

Google (NASDAQ:GOOG) quickly dropped 9% in early after-hours trading after the company reported fourth-quarter earnings of $9.50 per share, well short of analyst expectations for $10.49. The company’s $8.1 billion in revenues also were off target by about $300 million.

Meanwhile, Intel (NASDAQ:INTC) was up a modest 1% after its Q4 earnings report, in which the company announced earnings of 69 cents per share — up 10 cents from last year and 8 cents ahead of estimates. Intel’s revenues of $13.9 billion also were up significantly from the year-ago period’s $11.5 billion.

Financials also made some waves on earnings Thursday. Morgan Stanley (NYSE:MS) maintained its momentum from yesterday, as a fourth-quarter earnings beat of 45 cents per share sent MS stock up 5.4%. Morgan Stanley also announced a new quarterly dividend of 5 cents, giving MS shares a roughly 1% yield at its current price of $18.28.

Bank of America (NYSE:BAC) also got a boost from its earnings report, but much of it waned by afternoon. After reporting earnings of 15 cents per share (up from a 16-cent loss a year ago), BAC stock gained as much as 5% before finishing up a more modest 2.4% at $6.96.

After rewriting its own record books for two straight days, Apple (NASDAQ:AAPL) finally cooled off, but just a little bit. After closing Wednesday at an all-time closing high of about $429 per share, it dropped down to just under $428. Still, it remains one of several appealing high-price stocks.

Three Up

  • F5 Networks (NASDAQ:FFIV): Up 10.6% ($11.54) to $120.
  • NetApp (NASDAQ:NTAP): Up 8.3% ($2.86) to $37.51.
  • Barclays (NYSE:BCS): Up 7.9% (99 cents) to $13.53.

Three Down

  • Johnson Controls (NYSE:JCI): Down 8.8% ($3.12) to $32.46.
  • Navistar International (NYSE:NAV): Down 6.9% ($2.87) to $38.82.
  • Electronic Arts (NASDAQ:EA): Down 3.9% (72 cents) to $17.54.

Kyle Woodley is the assistant editor of InvestorPlace.com. As of this writing, he did not hold a position in any of the aforementioned securities. Check out recaps from previous trading days here.


Article printed from InvestorPlace Media, http://investorplace.com/2012/01/google-intel-earnings-goog-intc-ms-bac-aapl/.

©2014 InvestorPlace Media, LLC

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