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Tech stocks rise ahead of Microsoft, Amazon earnings
MARKETWATCH 10:55 AM ET 10/23/14
Symbol Last Price Change
MSFT 44.76 +0.38 (+0.86%)
AMZN 315.47 +2.5 (+0.8%)
P 23.28down +0.57 (+2.51%)
AAPL 104.89down +1.9 (+1.84%)
NFLX 382.37up +7.72 (+2.06%)
ORCL 38.29up +0.65 (+1.73%)
FB 79.96up +1.59 (+2.03%)
YELP 58.65 -11.58 (-16.49%)
QUOTES AS OF 10:59:18 AM ET 10/23/2014
SAN FRANCISCO (MarketWatch) -- Investors prepared for a busy day of earnings reports from the tech sector Thursday, with Microsoft Corp.(MSFT), Amazon.com Inc.(AMZN) and Pandora Media Inc.(P) all scheduled to deliver quarterly results after the close of trading.

Microsoft (MSFT) rose 40 cents a share to $44.79 ahead of the software giant's fiscal first-quarter results. Analysts surveyed by FactSet estimate Microsoft(MSFT) will earn 49 cents a share on $22 billion in revenue for the period ended in September.

Amazon (AMZN) is expected to post a loss of 76 cents a share on $20.8 billion in sales when it gives its third-quarter report after the close of trading. Analysts are expected to focus on the online-retailer's latest spending levels as it heads into the busy holiday-shopping season. Amazon(AMZN) shares rose $2.28 to $315.25 Thursday.

Pandora (P) shares were up by 58 cents at $23.30. The Internet-radio company is forecast to earn 8 cents a share on $ 238.5 million in sales for its third quarter. Gains in mobile-ad revenue and listener hours will be among the key factors in Pandora's results.

Among other leading tech stocks, advances came from Apple Inc.(AAPL) , Netflix Inc.(NFLX) , Oracle Corp.(ORCL) and Facebook Inc.(FB) .

Yelp Inc. (YELP) was a big loser on the day, with its shares falling almost 175 to $58.51. Late Wednesday, the online review and recommendation company reported better-than-expected third-quarter results, but was taken to task for giving a fourth-quarter revenue outlook that fell short of Wall Street analysts' forecasts.

The tech-heavy Nasdaq Composite Index (RIXF) rose 63 points, or 1.5%, to 4,445 and the Philadelphia Semiconductor Index (SOX) was also up by 1.5%.

-Rex Crum; 415-439-6400; [e-mail]

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10-23-141055ET
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