By Benjamin Pimentel, MarketWatch
SAN FRANCISCO (MarketWatch)--Technology stocks were mostly
higher Thursday, but Hewlett-Packard Co. gave up its gains after
the tech giant disappointed investors with its quarterly results
that came out shortly before the close of trading.
H-P (HPQ) ended the day down by 2.3% at $31.78 after the company
reported a fiscal second-quarter profit of $1.27 billion, or 66
cents a share, on revenue of $27.3 billion. Excluding one-time
items, H-P would have earned 88 cents a share, which met the
estimates of analysts surveyed by FactSet.
H-P also said it would cut an additional 11,000 to 16,000 jobs
on top of the 34,000 job cuts it already announced as part of a
restructuring plan.
Also getting notable attention Thursday was JD.com (JD), which
rose 10% to $20.90 as the Chinese online retailer made its debut as
a publicly traded company.
With H-P and JD in the spotlight, the tech-heavy Nasdaq
Composite Index (RIXF) rose almost 23 points to close at 4,154. The
Morgan Stanley High Tech 35 Index (MSH) and the Philadelphia
Semiconductor Index (SOX) were up a fraction.
Facebook (FB) ended the day with a gain of 3 cents a share to
close at $60.52 after Evercore Partners raised its rating for the
social network to overweight.
TiVo Inc. (TIVO) shares rose 1.5% to close at $11.93 prior the
digital TV technology company reporting its first-quarter results.
TiVo ended up delivering a profit of $8.1 million, or 7 cents a
share, after reporting a loss in the same period a year ago.
On the downside, Twitter (TWTR), Microsoft (MSFT), IBM Corp.
(IBM) and eBay Inc. (EBAY) all closed in the red.
Other must-read stories from MarketWatch:
Housing coming out of its deep freeze
JD.com IPO a hit, seen as proxy for Alibaba
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