Friday 15 July 2011

Tech Stocks "GOOG."..Jul 14, 7:59PM EDT


Tech Stocks ...Jul 14, 7:59PM EDT  
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Google (GOOG) Earnings Boost Futures After Close



By: John Darsie(Posted: 7/14/2011 04:42:00 PM)

The market broke recent pivot lows Thursday, with the Nasdaq weakest closing down 1.2%. Yesterday, Fed Chairman Bernanke testified in front of the House of Representatives, and after an initial spike, stocks sold off based on his comments. Today, testifying in front of the Senate, Bernanke offered further suggestions that the Fed was not close to considering another round of quantitative easing.

However, the picture changed somewhat after the bell as Google Inc. (GOOG) released its Q2 earnings report. Option volume had leaned toward calls going into the report, and the company didn't disappoint. Gross revenue was $9.03B vs. $8.59B expected, which represents a 32% jump from the year ago period. Most of the beat in terms of revenue came from Search. Non-gaap EPS was $8.64/share vs. $7.68 expected. GOOG is up 12% after hours, and the Nasdaq futures jumped on the announcement as well.
http://blog.t3live.com/2011/07/google-goog-earnings-boost-futures.html

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