Tech Stocks Up Big on Earnings After Hours
Wednesday, July 18, 2012 at 04:53PM Quite a few companies reported earnings after hours, and below we highlight the names that are moving on the news. As shown, Select Comfort (SCSS), Skyworks (SWKS), Qualcomm (QCOM), eBay (EBAY) and IBM are all up more than 2%. And Mellanox (MLNX) is halted after reporting blowout numbers.
There are some notable stocks trading lower as well. Capital One (COF), American Express (AXP), Yum! Brands (YUM), Stryker (SYK) and F5 Networks (FFIV) are all in the red on earnings in post-market trading.
Tomorrow morning we'll hear from Morgan Stanley (MS), VF Corp (VFC) and Verizon (VZ), and after the close we'll get numbers from Google (GOOG) and Microsoft (MSFT). So far this earnings season, the majority of companies are beating earnings estimates, but revenues have been weak. Stocks have been reacting positively following most reports, so the early take is that most negativity has been priced in.
