10 Buzzing Stocks: Google Drops 10%, Microsoft Pops 2% and Capital One Falls 5%
Shares of Google Inc. (NASDAQ:GOOG) dropped nearly 10 percent after reporting fourth quarter earnings late Thursday. The internet search king reported a 6 percent rise in earnings, but missed Wall Street’s expectations. Net revenue came in at $8.13 billion — analysts were expecting $8.43 billion, according to consensus estimates from FactSet Research. Shares of Yahoo! Inc. (NASDAQ:YHOO) are climbing slightly higher, while AOL Inc. (NYSE:AOL) edges lower.
Earnings Report: Intel Corp Earnings: Profit Rises Behind Revenue Boost.
Intel Corp. (NASDAQ:INTC) shares are rising in late market trading. The chip-maker reported a fourth quarter profit of $3.4 billion (64 cents per share), compared to $3.2 billion (56 cents per share) the previous year.
Microsoft Corp. (NASDAQ:MSFT) shares jumped more than 2 percent after the closing bell. The software company reported a fiscal second quarter profit of $6.62 billion (78 cents per share), compared to $6.63 billion (77 cents per share) the previous year.
Earnings Report: Google Revenue Grows by Double Digits for Fifth Straight Quarter
International Business Machines Corp. (NYSE:IBM) is also jumping more than 2 percent in extended trading. Net earnings for the fourth quarter increased 4 percent to $4.62 per share. Analysts had expected the company to report earnings of $4.61 a share, on revenue of $29.7 billion, according to a consensus survey by FactSet Research.
Earnings Report: IBM Earnings: Profit Rises for Third Straight Quarter.
Credit card company American Express Co. (NYSE:AXP) is seeing a drop of 2 percent in late trading. Profits increased 12 percent to $1.2 billion ($1.01 per share), but revenues of $7.7 billion missed analyst expectations. Shares of Visa (NYSE:V) and MasterCard Inc. (NYSE:MA) also traded lower.
The hardest hit credit card company in late trading is Capital One Financial Corp. (NYSE:COF). Shares are down more than 5 percent. The company reported a surprise 42 percent drop in fourth quarter profit. Profit was $407 million (88 cents per share), compared to $697 million ($1.52 per share) the previous year.
To contact the reporter on this story: Eric McWhinnie at firstname.lastname@example.org
To contact the editor responsible for this story: Damien Hoffman at email@example.com