Google (NASDAQ:GOOG) kicked off tech earnings with a bang late Thursday. After the closing bell, Google reported revenues of $9.72 billion in the third quarter of 2011, representing a 33% increase over third quarter 2010 revenues of $7.29 billion. Shares jumped more than 6% on the news. Investors holding Microsoft (NASDAQ:MSFT) or Yahoo (NASDAQ:YHOO) are now breathing a little easier.
Investing Insights: Google Inc. Earnings Cheat Sheet: Increased Profit Helps Beat the Street.
After an already poor day for financial companies due to JP Morgan’s (NYSE:JPM) sobering earnings release, Fitch Ratings whacks several big financial names with a downgrade or negative outlook. The affected banks include: Goldman Sachs (NYSE:GS) Morgan Stanley (NYSE:MS), Barclays Bank (NYSE:BCS), Bank of America (NYSE:BAC), Deutsche Bank (NYSE:DB), and UBS (NYSE:UBS).
Investor Insight: JPM Earnings Are This Ugly Without Accounting Tricks
Shares of AT&T (NYSE:T) are ticking up even though the FCC says the cell phone provider has provided “almost nothing” to explain how many jobs would be created or lost if the merger with Deutsche Telekom’s T-Mobile is approved. The new iPhone 4S from Apple (NASDAQ:AAPL) hits stores Friday. AT&T also competes with Sprint (NYSE:S) and Verizon (NYSE:VZ).