Tech Five: GameStop shares surge, HP dips

Tech Five: GameStop shares surge, HP dips


Video game retailer GameStop is scoring big with Wall Street. Let’s look at the five technology stocks to watch on Friday.

GameStop.[1] Shares jumped nearly 4% in pre-market trading following the company’s first quarter results that showed a 7% spike in revenue. The $2 billion haul for the quarter was attributed to strong consumer demand for new video game consoles PlayStation 4 and Xbox One. For the quarter, hardware sales at GameStop skyrocketed 81%.

Hewlett-Packard.[2] Shares of the personal computer maker are slightly down after revealing it will cut as many as 16,000 jobs. During its second quarter, revenue fell 1% to $27.3 billion. The layoffs are part of a larger restructuring effort by HP CEO Meg Whitman, as the company continues to transition away from PCs to mobile.

TiVo.[3] The home entertainment giant’s stock price surged more than 5%, after topping Wall Street forecasts with its first quarter results. TiVo raked in $86 million in revenue with a net income of $8.1 million. The company boasted 4.5 million subscriptions, the most in company history.

Google.[4] According to The Wall Street Journal[5], the company is working on a highly-advanced tablet that will allow users to capture 3-D pictures. The company could release the device during its annual developer conference next month.

Samsung. The electronics giant is reportedly working on a virtual reality headset[6], joining Oculus VR and Sony with its Project Morpheus device. Engadget reports the VR headset would work with future Galaxy smartphones and tablets.

Follow Brett Molina on Twitter: @bam923[7].

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