SAN FRANCISCO (MarketWatch)—Technology stocks were mostly higher Thursday, but Hewlett-Packard Co. gave up its gains after the tech giant disappointed investors with its quarterly results that came out shortly before the close of trading.
H-P (HPQ) ended the day down by 2.3% at $31.78 after the company reported a fiscal second-quarter profit of $1.27 billion, or 66 cents a share, on revenue of $27.3 billion. Excluding one-time items, H-P would have earned 88 cents a share, which met the estimates of analysts surveyed by FactSet.
H-P also said it would cut an additional 11,000 to 16,000 jobs on top of the 34,000 job cuts it already announced as part of a restructuring plan.
Also getting notable attention Thursday was JD.com (JD) , which rose 10% to $20.90 as the Chinese online retailer made its debut as a publicly traded company.
/quotes/zigman/12633936/realtime COMP 4,154.34, +22.80, +0.55% Nasdaq Composite Index
With H-P and JD in the spotlight, the tech-heavy Nasdaq Composite Index (COMP) rose almost 23 points to close at 4,154. The Morgan Stanley High Tech 35 Index (MSH) and the Philadelphia Semiconductor Index (SOX) were up a fraction.
Facebook (FB) ended the day with a gain of 3 cents a share to close at $60.52 after Evercore Partners raised its rating for the social network to overweight.
TiVo Inc. (TIVO) shares rose 1.5% to close at $11.93 prior the digital TV technology company reporting its first-quarter results. TiVo ended up delivering a profit of $8.1 million, or 7 cents a share, after reporting a loss in the same period a year ago.
On the downside, Twitter (TWTR) , Microsoft (MSFT) , IBM Corp. (IBM) and eBay Inc. (EBAY) all closed in the red.
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