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. 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. 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. 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. According to The Wall Street Journal, 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, joining Oculus VR and Sony with its Project Morpheus device. Engadget reports the VR headset would work with future Galaxy smartphones and tablets.
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- ^ http://www.usatoday.com/money/lookup/stocks/GME/ (rssfeeds.usatoday.com)
- ^ http://www.usatoday.com/money/lookup/stocks/HPQ/ (rssfeeds.usatoday.com)
- ^ http://www.usatoday.com/money/lookup/stocks/TIVO/ (rssfeeds.usatoday.com)
- ^ http://www.usatoday.com/money/lookup/stocks/GOOG/ (rssfeeds.usatoday.com)
- ^ http://online.wsj.com/news/article_email/SB10001424052702303749904579578833557306544-lMyQjAxMTA0MDIwMTEyNDEyWj (online.wsj.com)
- ^ http://www.usatoday.com/story/tech/gaming/2014/05/22/samsung-vr/9440717/ (rssfeeds.usatoday.com)
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