Midday movers: Google, Microsoft, SanDisk

Stocks decline as concerns about Spain outweigh relatively strong reports from a pair of tech bellwethers.

By MSN Money Partner Jul 20, 2012 12:55PM
Information provided by Theflyonthewall.com

Google
(GOOG) shares rose nearly 3% after its better than expected earnings prompted Citigroup, RBC Capital, Susquehanna and other firms to make positive comments. Google said overall clicks on its search ads jumped 42% in the quarter and that it's seeing "phenomenal growth" in mobile search queries.

Among some other big names in tech, Microsoft (MSFT) slid over 1% after its adjusted earnings beat consensus but its revenues were a bit light and SanDisk (SNDK) surged almost 14% following its Q2 report.

General Electric (GE) reported earnings that beat the Street's view on revenues that were somewhat lower than expected and said it had "no change" in its company outlook. Also, the conglomerate announced plans to reorganize its Energy division into 3 standalone businesses.

Initial public offerings commenced for security software provider Palo Alto Networks (PANW) and travel website Kayak Software (KYAK).

Among the notable gainers were Dole Food (DOLE), up 7%, after the company's earnings beat expectations and said it is exploring the sale and spin-off of its worldwide packaged foods business, and A123 Systems (AONE), up 23%, after the company announced a contract from BAE Systems (BAESY) yesterday and one with Ray Power today. Among the noteworthy losers were Chipotle Mexican Grill (CMG), down nearly 23%, after its revenues missed expectations and its same store sales growth slowed sequentially, and Cepheid (CPHD), down about 22%, after lowering its full year guidance, saying its taking a more cautious view on the remainder of the year.

(Microsoft owns and publishes Top Stocks, an MSN Money site.)
0Comments

DATA PROVIDERS

Copyright © 2014 Microsoft. All rights reserved.

Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.

STOCK SCOUTER

StockScouter rates stocks from 1 to 10, with 10 being the best, using a system of advanced mathematics to determine a stock's expected risk and return. Ratings are displayed on a bell curve, meaning there will be fewer ratings of 1 and 10 and far more of 4 through 7.

124
124 rated 1
279
279 rated 2
471
471 rated 3
714
714 rated 4
642
642 rated 5
604
604 rated 6
614
614 rated 7
450
450 rated 8
303
303 rated 9
115
115 rated 10
12345678910

Top Picks

SYMBOLNAMERATING
ARCPAMERICAN REALTY CAPITAL PROPERTIES Inc10
BIDUBAIDU Inc10
CITCIT GROUP Inc NEW10
HPQHEWLETT PACKARD CO10
ITUBITAU UNIBANCO BANCO MULTIPLO S.A.10
More

VIDEO ON MSN MONEY

ABOUT

Top Stocks provides analysis about the most noteworthy stocks in the market each day, combining some of the best content from around the MSN Money site and the rest of the Web.

Contributors include professional investors and journalists affiliated with MSN Money.

Follow us on Twitter @topstocksmsn.