The technology sector maintained its strong pace late Tuesday afternoon, as Apple Inc. (NASDAQ:AAPL) rose more than 2% and technology bellwethers Intel Corporation (NASDAQ:INTC) and International Business Machines Corp. (NYSE:IBM) gained before their third-quarter results due after the closing bell. Both provided lackluster earnings reports, which garnered tepid reviews from Wall Street analysts, represent a weak start to the technology earnings season, and could warn of more disappointing reports from other tech titans.
Digitimes reports that the Windows Phone 8-powered handsets by Nokia Corporation (NYSE:NOK), Lumia 920 and Lumia 820, are expected to be priced out of the market by HTC and Samsung. The report claims HTC and Samsung will put into practice aggressive pricing strategies for their Windows Phone 8 devices as they seek ways to weaken the Finnish firm, something that would at least give the new operating system of Microsoft (NASDAQ:MSFT) a decent boost.
The stock’s price increased in the last trading session with a previous 52-week high of $7.38. The stock was trading on below-average volume. The stock traded at a volume of 50.42 million shares at a price gain of 5.22%. The share price is now up 63.01% for the past three months. Latest closing price was 2.75% above its 50-day moving average and -18.29% below its 200-day moving average.
Corning Incorporated (NYSE:GLW) was up after announcement that Corning and ADVA Optical Networking achieved 100G Direct Detection Across Record Distance Over the last 12 months, a return on equity of 10.45 percent was realized due to the financial situation and earnings per share reached a value of $1.43.
Last fiscal year, $0.36 has been paid in form of dividends to investors. Earnings are projected to move up 3.56 percent for the coming five years. The stock closed at $13.56, up 3.67 points or 0.48% from previous close and at a distance of 3.44% from 20-day simple moving average.
Juniper Networks, Inc. (NYSE:JNPR) jumped after analysts expected strong Q3 for the company and were mixed on Q4 forecast. In the last trading session, the stock’s price moved -9.10% below its 200 day moving average, changing hands as low as $16.81 per share. The stock is currently trading -2.90% down its SMA 50. The worst hit in its 52 week range is $14.01 per share, with $25.60 being the 52 week best price, which compares with a latest closing price of $17.48. The Beta of this stock is 1.73.
Micron Technology, Inc. (NASDAQ:MU) moved down -8.11% in this year and its price history showed most recently beta was at 1.78. Overall the last 12 months, the percentage change in the price was 4.52%, hitting the highest of $9.16 on Feb 18, 2012 while lowest level in that period was $5.06 on Nov 10, 2011.