AMD and HP Pull Tech Shares Higher

Hewlett-Packard Co. (NYSE:HPQ) and Advanced Micro Devices Inc. (NYSE:AMD) made strong gains in spite of the Nasdaq Composite (NASDAQ:QQQ) being off about 0.5% in early trades to 2,727 after what began as an otherwise weak session for technology stocks. Both the Dow (NYSE:DIA) and S&P 500 (NYSE:SPY) were also in slightly weaker territory at the open.

However, one notable gainer was H-P (NYSE:HPQ), which picked up more than 3% to trade at $28 in the early hour. After publicly entertaining the possibility that it might sell or spin off the PC business in an effort to focus on corporate hardware and software, the high-tech giant announced that it was keeping it. The move was largely cheered by Wall Street analysts suggesting that H-P and PSG are better together. Newly anointed H-P chief executive Meg Whitman said in a conference call late Thursday, PSG was referring to the Personal Systems Group, which contains the company’s PC business. Shares of chief H-P rival Dell Inc. (NASDAQ:DELL) were down about 1% in early trades. AMD (NYSE:AMD) shares jumped more than 4% to $5.80 which was also slightly ahead of Wall Street’s estimates.

“Several tech stocks were trading in the red following earnings reports late Thursday. These included PMC-Sierra (NASDAQ:PMCS), Digital River (NASDAQ:DRIV), Expedia (NASDAQ:EXPE) and FormFactor (NASDAQ:FORM),” according to MarketWatch.

  • Hewlett-Packard Company (NYSE:HPQ): The shares recently traded at $27.80, up $0.71, or 2.62%. Its market capitalization is $55.24 billion. They have traded in a 52-week range of $21.50 to $49.39. Volume today was 18,796,169 shares versus a 3-month average volume of 29,001,600 shares. The company’s trailing P/E is 6.53, while trailing earnings are $4.26 per share. The company pays a dividend of $0.48 per share for a dividend yield of 1.90%. About the company: Hewlett-Packard Company provides imaging and printing systems, computing systems, and information technology services for business and home. The Company’s products include laser and inkjet printers, scanners, copiers and faxes, personal computers, workstations, storage solutions, and other computing and printing systems. Hewlett-Packard sells its products worldwide.
  • Advanced Micro Devices, Inc. (NYSE:AMD): The shares recently traded at $6.00, up $0.67, or 12.57%. Its market capitalization is $4.15 billion. They have traded in a 52-week range of $4.31 to $9.58. Volume today was 33,064,082 shares versus a 3-month average volume of 24,435,800 shares. The company’s trailing P/E is 5.34, while trailing earnings are $1.12 per share. About the company: Advanced Micro Devices, Inc. manufactures semiconductor products. The Company manufactures products that include microprocessors, embedded microprocessors, chipsets, graphics, video and multimedia products. Advanced Micro Devices, Inc. offers its products on a global basis.
  • Dell Inc. (NASDAQ:DELL): The shares recently traded at $16.15, down $0.17, or 1.04%. Its market capitalization is $29.46 billion. They have traded in a 52-week range of $12.99 to $17.60. Volume today was 10,972,496 shares versus a 3-month average volume of 28,154,100 shares. The company’s trailing P/E is 8.63, while trailing earnings are $1.87 per share. About the company: Dell Inc. offers a wide range of computers and related products. The Company sells personal computers, servers and networking products, storage systems, mobility products, software and peripherals, and services. Dell serves consumers and businesses in the Americas, Europe, the Middle East, Africa, and the Asia Pacific region.
  • PMC-Sierra Inc. (NASDAQ:PMCS): The shares recently traded at $6.23, down $0.6, or 8.78%. Its market capitalization is $1.46 billion. They have traded in a 52-week range of $5.26 to $9.20. Volume today was 3,520,271 shares versus a 3-month average volume of 3,686,950 shares. The company’s trailing P/E is 41.53, while trailing earnings are $0.15 per share. About the company: PMC-Sierra, Inc. designs, develops, markets, and supports semiconductor networking solutions. The Company’s products are used in the high speed transmission and networking systems which are used to restructure the global telecommunications and data communications infrastructure.
  • Expedia Inc. (NASDAQ:EXPE): The shares recently traded at $27.05, down $2.04, or 7.01%. Its market capitalization is $7.42 billion. They have traded in a 52-week range of $19.61 to $32.89. Volume today was 7,078,193 shares versus a 3-month average volume of 5,514,150 shares. The company’s trailing P/E is 17.39, while trailing earnings are $1.56 per share. The company pays a dividend of $0.28 per share for a dividend yield of 1.00%. About the company: Expedia, Inc. provides branded online travel services for leisure and small business travelers. The Company offers a wide range of travel shopping and reservation services, providing real-time access to schedule, pricing and availability information for airlines, hotels, and car rental companies.
  • Digital River Inc. (NASDAQ:DRIV): The shares recently traded at $18.45, down $4.55, or 19.78%. Its market capitalization is $732.17 million. They have traded in a 52-week range of $18.30 to $39.85. Volume today was 2,303,479 shares versus a 3-month average volume of 578,016 shares. The company’s trailing P/E is 38.04, while trailing earnings are $0.49 per share. About the company: Digital River, Inc. provides comprehensive electronic commerce outsourcing solutions to software publishers and online retailers. The Company also provides data mining and merchandising services to assist clients in increasing Internet page view traffic to web sites.
  • FormFactor Inc. (NASDAQ:FORM): The shares recently traded at $6.00, down $0.54, or 8.26%. Its market capitalization is $305.09 million. They have traded in a 52-week range of $5.81 to $11.05. Volume today was 479,278 shares versus a 3-month average volume of 555,602 shares. The company’s trailing earnings are $-2.87 per share. About the company: FormFactor Inc, designs, develops, and manufactures advanced semiconductor wafer probe cards. The Company’s products are based on MicroSpring interconnect technology, which includes resilient spring-like contacts that are manufactured using micro-machining and scalable semiconductor-like wafer fabrication processes.