Tech Five: Amazon, Pandora sinking
Jeff Bezos, CEO and founder of Amazon, at the introduction of the new Amazon Kindle Fire HD and Kindle Paperwhite personal devices, in Santa Monica, Calif., in 2012.
Investors don’t appear as enthusiastic about technology earnings this morning. Here’s a look at the five tech stocks to watch Friday:
Amazon.[1] Shares of the online retailer are down more than 2% in pre-market trading after reporting a 32% jump in first-quarter net income[2]. Revenue increased 23% to $19.7 billion. Earlier this week, the company announced a long term deal with HBO to host several older television series including The Sopranos on Amazon Instant Video.
Pandora.[3] The streaming music service’s stock plunged 5.5% off its first-quarter earnings results Thursday. Although Pandora trimmed quarterly losses compared to last year, CNet reports[4] its second quarter outlook fell short of Wall Street forecasts. Shares of Pandora have experienced a slump since early March, when reaching a 52-week high of $39.43. The stock closed Thursday just above $28.
Microsoft.[5] The tech titan’s shares crept higher Friday after its third quarter results topped expectations[6]. The company generated more than $20 billion in revenue and profits of $5.7 billion. This was the first earnings call helmed by Satya Nadella, who was named Microsoft CEO in February.
Nokia.[7] The company confirmed it has completed the sale of its Devices & Services division to Microsoft. The deal is worth $7.2 billion. The division makes the Lumia smartphone, which runs Microsoft’s Windows mobile operating system.
Google.[8] Vic Gundotra, the head of social network Google+, announced he is departing the company[9] after 8 years. Gundotra is credited with building Google+, which topped 300 million monthly active users.
References
- ^ Amazon. (www.usatoday.com)
- ^ reporting a 32% jump in first-quarter net income (www.usatoday.com)
- ^ Pandora. (www.usatoday.com)
- ^ CNet reports (www.cnet.com)
- ^ Microsoft. (www.usatoday.com)
- ^ after its third quarter results topped expectations (www.usatoday.com)
- ^ Nokia. (www.usatoday.com)
- ^ Google. (www.usatoday.com)
- ^ announced he is departing the company (www.usatoday.com)
- ^ @bam923 (rssfeeds.usatoday.com)