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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
