3 Stocks to Watch on Thursday: eBay Inc (EBAY), Intel Corporation (INTC) and Qualcomm, Inc. (QCOM)

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With a 1.4% increase on Wednesday, the tech industry set the tone on a strong day for the stock market. The S&P 500 surged 0.4% on the day, while the Dow Jones Industrial Average rose 0.2%.

3 Stocks to Watch on Thursday: eBay Inc (EBAY), Intel Corporation (INTC) and Qualcomm, Inc. (QCOM)It was a busy day for investors as several companies reported earnings yesterday, including eBay Inc (NASDAQ:EBAY), Intel Corporation (NASDAQ:INTC) and Qualcomm, Inc. (NASDAQ:QCOM).

Here’s how they did:

eBay Inc (EBAY)

It’s starting to look like eBay is heading the right direction.

The e-commerce site reported earnings of 43 cents per share, excluding certain items. The Thomson Reuters consensus estimate called for earnings of 42 cents a share.

Revenue also came in ahead of expectations at $2.2 billion, compared to a $2.17 billion average estimate. Additionally, eBay approved a stock repurchase of $2.5 billion.

The company also experienced a year-over-year increase of its gross merchandise volume–from 4% to 6%.

EBAY stock was up 6.9% after the bell Wednesday.

Intel Corporation (INTC)

Intel CEO Brian Krzanich said the company is “gaining momentum” as it reports quarterly earnings.

For its most recent period, INTC reported earnings of 59 cents a share, handily topping the 53 cents a share that Wall Street had projected.

Moreover, the company reported revenue of $13.53 billion last quarter, falling only $10 million short of what analysts had estimated.

Intel cut 6,000 jobs as part of a restructuring program that will help the company keep its aim at being more profitable. Eventually, a total of 12,000 jobs will be eliminated.

INTC stock dipped 3.3% in after-hours trading yesterday.

Qualcomm, Inc. (QCOM)

QCOM stock rose 7% on the heels of the company’s fiscal third-quarter results.

Qualcomm’s revenue amounted to $6.04 billion, ahead of the $5.58 billion expected by analysts, as well as the $5.8 billion from the year-ago period.

The semiconductor manufacturer has been offering new license agreements in China, helping to drive up earnings in this quarter.

The $1.16 a share earned by the company topped what analysts expected — 97 cents a share.

As of this writing, Karl Utermohlen did not hold a position in any of the aforementioned securities.

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Article printed from InvestorPlace Media, https://investorplace.com/2016/07/3-stocks-to-watch-on-thursday-ebay-inc-ebay-intel-corporation-intc-and-qualcomm-inc-qcom/.

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