Wednesday, October 19, 2011

There’s More to Tech Than Apple — Wednesday’s IP Market Recap

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tdp2664 InvestorPlace While investors spent most of Tuesday night and Wednesday morning poring over Apple 's ( NASDAQ : AAPL ) fourth-quarter earnings failures, two other tech companies you might have heard of — Intel ( NASDAQ : INTC ) and Yahoo ( NASDAQ : YHOO ) — were busy watching their stocks head higher after wowing Wall Street analysts. Or at least in Yahoo's case, performing less hideously than expected. Scorching chips demand in emerging markets more than made up for lagging U.S. sales, staking Intel to a record $14.3 billion in quarterly revenues for the third quarter — up 29% from the same period last year. Tuesday's news jump-started Intel to a 2.5% gain at Wednesday's opening bell, and INTC finished the day up 3.59% at $24.24 — its best mark since August 2008. Intel's PC division had a 22% increase in semiconductor sales during the third quarter — a stark contrast to the global PC market, which saw shipments grow just 3.2% last quarter. However, rocketing PC sales in China, India and Latin America have helped to soothe declines in the U.S., Canada and Europe. Intel's future also looks bright — the company projects 2011 revenues to reach $55 billion, a year-on-year increase of 26%. As Intel was reporting its bumper quarter, Yahoo had some much-needed good news of its own. The company was able to crawl over basement-low expectations, posting earnings per share of 23 cents, as opposed to the 17 cents analysts predicted for the third quarter. While Yahoo's earnings still were a 26% decline from 2010, the expectations beat broke a streak of bad news — including the firing of CEO Carol Bartz in early September and even talk that troubled AOL (NYSE: AOL ) CEO Tim Armstrong was interested in a merger — and was more than enough to send YHOO shares up 3% on Wednesday to $15.94. Three Up Intuitive Surgical (NASDAQ: ISRG ): Up 9.11% ($34.86) to $417.62. Travelers (NYSE: TRV ): Up 5.69% ($2.93) to $54.39. Aeropostale (NYSE: ARO ): Up 4.4% (58 cents) to $13.76. Three Down Checkpoint Systems (NYSE: CKP ): Down 21.46% ($3.09) to $11.31. Agnico-Eagle Mines (NYSE: AEM ): Down 18.55% ($10.59) to $46.51. Green Mountain Coffee Roasters (NASDAQ: GMCR ): Down 14.99% ($12.31) to $69.80. As of this writing, Kyle Woodley did not own a position in any of the aforementioned stocks.



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