2 Tech Stocks Lighting Up Trading Screens After Earnings
Intuitive Surgical, Inc. (NASDAQ:ISRG) reported net income above Wall Street’s expectations for the third quarter. Net income for the medical appliances and equipment company rose to $122.4 million ($3.05 per share) vs. $86.6 million ($2.14 per share) in the same quarter a year earlier. This marks a rise of 41.3% from the year earlier quarter. Revenue rose 29.7% to $446.7 million from the year earlier quarter. ISRG beat the mean analyst estimate of $2.76 per share. It beat the average revenue estimate of $417.8 million.
Dr. Gary Guthart, President and CEO of Intuitive Surgical, said, “We are pleased with the growth in da Vinci procedures and the performance of our team in the quarter.”
Competitors to Watch: Stryker Corporation (NYSE:SYK), Bovie Medical Corporation (AMEX:BVX), Synovis Life Tech., Inc. (NASDAQ:SYNO), CryoLife, Inc. (NYSE:CRY), Medtronic, Inc. (NYSE:MDT), Smith & Nephew plc (NYSE:SNN), Vision-Sciences, Inc. (NASDAQ:VSCI), CONMED Corporation (NASDAQ:CNMD), The Cooper Companies, Inc. (NYSE:COO), and OLYMPUS CORPORATION (OCPNY).
EMC Corporation (NYSE:EMC) reported net income above Wall Street’s expectations for the third quarter. Net income for EMC Corporation rose to $605.6 million (27 cents per share) vs. $472.5 million (22 cents per share) in the same quarter a year earlier. This marks a rise of 28.2% from the year earlier quarter.Revenue rose 18.2% to $4.98 billion from the year earlier quarter. EMC reported adjusted net income of 37 cents per share. By that measure, the company beat the mean estimate of 30 cents per share. Analysts were expecting revenue of $4.92 billion.
Joe Tucci, EMC Chairman and Chief Executive Officer, said, “I am very pleased with EMC’s execution and solid third-quarter financial performance. Global customer demand for our industry-leading products and services, which led to record quarterly financial results, is clear evidence that EMC is at the center of the most transformative, disruptive and opportunity-rich trends in IT history – namely hybrid cloud computing and the explosion of Big Data. With the strategy, products and momentum in our favor, EMC remains extremely well positioned to help customers accelerate their journey to the cloud, discover the value of Big Data and transform IT into a source of greater efficiency, agility and control.”
Competitors to Watch: NetApp Inc. (NASDAQ:NTAP), Dot Hill Systems Corp. (NASDAQ:HILL), Western Digital Corp. (NYSE:WDC), Quantum Corporation (NYSE:QTM), Overland Storage, Inc. (NASDAQ:OVRL), Hewlett-Packard Company (NYSE:HPQ), Xyratex Ltd. (NASDAQ:XRTX), ADPT Corporation (ADPT), Intl. Business Machines Corp. (NYSE:IBM), and Brocade Communications Systems, Inc. (NASDAQ:BRCD).