Technology stocks were leading markets higher Friday, bolstered by a more than 5% gain for Apple (AAPL) after the iPhone-maker late Thursday reported fiscal Q1 earnings and revenue exceeding consensus estimates.
At last look, the SPDR Technology Select Sector ETF (XLK) was rising 2.5% although the Philadelphia Semiconductor Index was falling 0.3% this afternoon.
In company news, Atlassian (TEAM) climbed 8.7% after the Australian software firm reported non-IFRS net income of $0.50 per share for its fiscal Q2 ended Dec. 31, up from $0.37 per share a year earlier and beating the Capital IQ estimate by $0.11 per share.
Hewlett Packard Enterprise (HPE) was 0.6% higher following reports the software firm won a fraud lawsuit against UK businessman Mike Lynch over its $11 billion purchase of his Autonomy, with a London court ruling Lynch and another Autonomy executive acted to inflate the value of Autonomy prior to a 2011 sale.
Western Digital (WDC) slid 8.1% after forecasting fiscal Q3 earnings and revenue lagging Wall Street expectations. The data storage company is projecting non-GAAP net income of $1.50 to $1.80 per share on between $4.45 billion to $4.65 billion in revenue. Analysts polled by Capital IQ, on average, were looking for $1.93 and $4.73 billion, respectively. Separately, it said Robert Eulau was stepping down as chief financial officer, to be succeeded by former Dialog Semiconductor CFO Wissam Jabre.
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