By Rex Crum, MarketWatch
SAN FRANCISCO (MarketWatch) -- Gains from Salesforce.com Inc.
and GameStop Corp. stood out among tech stocks Friday, lifted by
upbeat earnings.
Salesforce (CRM) shares rose more than 8% to $60.28 after the
cloud-software company late Thursday reported earnings excluding
one-time items of 13 cents a share on $1.32 billion in revenue,
while analysts surveyed by FactSet had forecast Salesforce to earn
12 cents a share on sales of $1.29 billion. Salesforce also said
deferred revenue, or sales from future software subscriptions, rose
31% from a year ago.
Videogame retailer GameStop (GME) was up 6% at $42.94 after its
fiscal second-quarter profit more than doubled from a year ago. The
company said demand remained high for Microsoft Corp.'s (MSFT) Xbox
One and Sony Corp.'s (SNE) PlayStation 4 game consoles.
As trading progressed, gains also came from Apple Inc. (AAPL),
Netflix Inc. (NFLX), Google Inc. (GOOGL) and Yahoo Inc. (YHOO).
(Read more about other active stocks in Movers & Shakers:
http://www.marketwatch.com/story/gamestop-soars-aeropostale-sinks-foot-locker-reports-earnings-friday-2014-08-21.)
Many eyes were on Fed Chairwoman Janet Yellen, who addressed the
U.S. central bank's annual summer conference in Jackson Hole, Wyo.
Yellen said the main issue facing the Fed now is when it should
consider raising interest rates. The overall market was largely
unfazed by Yellen's comments.
The tech-heavy Nasdaq Composite Index (RIXF) rose 3 points to
4,535 and the Philadelphia Semiconductor Index (SOX) was also in
positive territory.
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