Yahoo Finance Stocks - Apple Jumps Midday; Paycom, Pandora Soar
Investing.com - The eyes of the market were on Apple midday Wednesday, and not just because of its strong earnings report.
Apple stock rose about 5% at 11:45 AM ET (15:45 GMT) after reporting strong numbers postmarket Tuesday. That also put the company in touching distance of becoming the first to hit $1 trillion in market cap.
Based on the number of shares outstanding at the end of the last quarter, Apple shares (NASDAQ:AAPL) have to hit $206.49 to make the milestone.
Apple’s fiscal third-quarter results beat on the top and bottom lines, driven by sales of the pricier iPhone X and subscription revenue to services such as Apple Music and its App Store.
Also in the tech sector, Paycom (NYSE:PAYC) soared about 15% after beating Wall Street’s earnings and revenue expectations and also predicting above-consensus revenue for the current quarter. Salesforce.com (NYSE:CRM) also gained midday, rising about 1%.
Another high flyer was Pandora Media (NYSE:P), which jumped bout 15% as the company reported a smaller-than-expected loss and also beat quarterly revenue estimates.
One of the hardest hit stocks in the tech sector was Akamai Technologies (NASDAQ:AKAM), which slumped about 6% on weak outlook.
Related Articles
Belgium stocks lower at close of trade; BEL 20 down 0.21%
Sweden stocks lower at close of trade; OMX Stockholm 30 down 0.19%
GE's Distributed Power unit sale backed with US$2.2bn of loans
