Radar Movers: Google and IBM Jump 4%, Intuitive Surgical Surges 9%
Shares of Google (NASDAQ:GOOG) jumped more than 4 percent after reporting better-than-expected fourth quarter financial results. Excluding items, the search giant earned $10.65 per share, compared to $9.50 per share a year earlier. Meanwhile, revenue including Motorola Home jumped 50 percent to $12.16 billion, compared to $8.13 billion a year earlier. Analysts expected earnings of $10.42 per share on $12.34 billion in revenue. Yahoo (NASDAQ:YHOO) shares also edged higher in late afternoon hours.
International Business Machines (NYSE:IBM) also gained more than 4 percent in late afternoon trading. The company said earnings excluding items increased to $5.39 per share, compared to $4.71 per share a year earlier. However, revenue dipped to $29.30 billion from $29.49 billion a year ago. Analysts expected earnings of $5.25 a share with revenue of $29.09 billion.
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Shares of Intuitive Surgical (NASDAQ:ISRG) surged nearly 9 percent in late afternoon hours. The company announced that net income increased 15.7 percent to $174.9 million in the fourth quarter, compared to $151.2 million a year earlier. Revenue jumped 22.6 percent to $609.3 million. Dr. Gary Guthart, president and chief executive officer, said, “We are pleased with our fourth quarter procedure performance and revenue growth. Our results reflect expanding da Vinci Surgical System use across a broadening array of procedures and strong execution by our team.”
Advanced Micro Devices (NYSE:AMD) shares increased 1.2 percent after reporting quarterly results. The company posted a net loss of $102 million, but improved from last year’s $177 million loss. Revenue also declined 31 percent to $1.16 billion, edging pass estimates of $1.15 billion. “AMD continues to evolve our operating model and diversify our product portfolio with the changing PC environment,” said Rory Read, AMD president and CEO. Innovation is the core of our long-term growth. The investments we are making in technology today are focused on leveraging our distinctive IP to drive growth in ultra low power client devices, semi-custom SoCs and dense servers. We expect to deliver differentiated and groundbreaking APUs to our customers in 2013 and remain focused on transforming our operating model to the business realities of today.”
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