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Loading the player… Several tech companies reporting earnings over the latest week lifted in the stock market Friday as major stock indexes perked by more than 1%. It’s been a volatile trading week amid a market in correction. Twitter ( TWTR ) vaulted 10% in afternoon trading, erasing the week’s losses around its fourth quarter report that showed slowing user growth. It’s tweaking its user interface to be a little more like Facebook ( FB ), which currently gets a top stock rating from IBD: a best-possible Composite Rating of 99. (See the video for who’s highly rated or not, and more on the week’s earnings reports.) Akamai ( AKAM ) lifted more than 3% intraday in the stock market today after surging earlier in the week on its quarterly report. IRobot ( IRBT ) was up nearly 4%. Cisco Systems ( CSCO ) and Yelp ( YELP ) stock rose more than 2% by the afternoon. Pandora Media ( P ) plunged 14% Friday afternoon, amid a declining number of users for the streaming music service revealed in its quarterly report Thursday, plus competition from Apple ( AAPL ), highly rated Alphabet ( GOOGL ) (with a 99 IBD Composite Rating) and Amazon ( AMZN ) in its business. “Pandora’s core profitability appears challenged by higher royalties and diminishing productivity gains, and its new service efforts appear expensive given the poor history of profits in the space,” Pacific Crest Securities analyst Andy Hargreaves said in a research report. Security firm CyberArk ( CYBR ) fell nearly 12%. Travel sites TripAdvisor ( TRIP ) and Expedia ( EXPE ) gave back 2.5% Friday afternoon. Both rose Thursday. Tesla Motors ( TSLA ) fell fractionally. Before Friday’s action, tech companies whose stocks had lifted this week around their quarterly reports included Cisco, Akamai and TripAdvisor, with big jumps, as well as Tesla and Expedia. On the downside were Pandora, iRobot, CyberArk, Yelp and Twitter. Image provided by Shutterstock . Scalper1 News
Scalper1 News