Tech Stocks Lead The Market Higher, NVIDIA Outperforms (LEAP, NVDA, MSFT, SOL, YHOO, TEF, AVG)
Technology stocks are the top performing stocks on Friday buyout by robust outlook from NVIDIA Corporation (NASDAQ:NVDA).
Leap Wireless International Inc (NASDAQ:LEAP) surged up 10.62% to $5.93. According to report from Reuters, AT&T Inc has is in talks to buy Leap Wireless International. Leap Wireless had to hire bankers to advise it on a potential deal.
The Company is introducing additional data tiers to the pay-as-you-go carrier’s offerings to help manage the rising use of streaming video and photo downloads to handsets.
NVIDIA Corporation (NASDAQ:NVDA) soared 7.41% to $13.34 after the Company reported first quarter results. Net income was $60.44 million or $0.10 per share versus $135.22 million or $0.22 per share in the prior year period. Revenue was $924.9 million compared to $962.04 million in the earlier year quarter. The Company expects revenue to be between $990 million and $1.05 billion for the second quarter of fiscal 2013.
Microsoft Corporation(NASDAQ:MSFT) added 1.95% to $31.34
ReneSola Ltd (ADR) (NYSE:SOL) jumped up 5.59% to $1.89 after the Company released first quarter results. Net revenues increased 12.7% quarter over quarter to $211.5 million. Net loss was $40.2 million or $0.23 per share in the first quarter of 2012. Cash and cash equivalents were $388.3 million as on March 31,2012. Total solar wafer and module shipments were 466.0 megawatts in first quarter 2012.
Yahoo! Inc (NASDAQ:YHOO) went down 1.75% to $15.17. The Board of Directors announced that it has formed a special committee to conduct a thorough review of CEO Scott Thompson’s academic credentials.
Telefonica S.A. (ADR) (NYSE:TEF) plunged 3.67% to $14.19 after the Company reported first quarter results. Revenues increased 0.5% to 15,511 million euros in the first quarter of 2012. Operating income declined 17.8% to 2,511 million euros. Profit from associates stood at -481 million euros compared to -16 million euros in the same period of 2011. The customer base was 309 million accesses while mobile net adds grew by 4.3 million accesses in the first quarter.
AVG Technologies NV (NYSE:AVG) jumped up 9.20% to $14.01 after the Company announced first quarter results. Net income was 10.9 million or $0.21 per share compared to net income of $12.13 million or $0.32 per share in the first quarter of 2011. Revenue was $83.0 million compared to $60.8 million in the first quarter of 2011. The Company expects revenue to be in the range of $80.0 million to $82.0 million for the second quarter of 2012. Net income is expected to be in the range of $8.5 million to $9.5 million.