Tech stocks: HP surges, AMD sinks
A dip in revenue and earnings doesn't seem to be slowing Hewlett-Packard's stock price. Let's take a look at the tech stocks to watch Thursday:
HP shares soar. The largest personal computer maker's stock price has surged 11% in pre-market trading after its second-quarter earnings report topped Wall Street estimates.
The company pulled in $27.6 billion in the second quarter, down from more than $30 billion generated the same time a year ago. However, HP CEO Meg Whitman says her plans to turaround the ailing PC maker are still on track.
"This (2013) is a fix-and-rebuild year, and we think revenue growth is possible in 2014," she says.
Advanced Micro Devices down. Shares of AMD have dropped 3% after unveiling new chips aimed at tablets and thin laptops.
As Cnet reports, the chips are specifically focused on low- to mid-priced gadgets.
Pandora earnings out today. The online streaming music service shares first-quarter earnings when markets close, as competition in the field heats up with new options such as the recently launched Twitter Music.
Shares of Pandora are down 6 cents in pre-market trading.