By Rex Crum, MarketWatch
SAN FRANCISCO (MarketWatch) -- Workday Inc., Autodesk Inc. and
TiVo Inc. are among the biggest gainers in the tech sector Thursday
in the wake of those companies' earnings reports this week.
Workday (WDAY) climbed 12%, to $112.27 a share a day after the
cloud-based business software company reported better-than-expected
fourth-quarter results Wednesday night. Workday reported a loss of
13 cents a share on revenue $141.9 million, while Wall Street
analysts had forecast a loss of 16 cents a share on $137.9 million
in sales. Workday also forecast first-quarter revenue of $148
million to $153 million.
FBR Capital Markets analyst Samad Samana raised his rating on
Workday to outperform from market perform, saying "to us, the most
important development has been that WDAY's financials business
appears to be fast approaching the long-awaited inflection point
with larger enterprises, and as this should support growth for
years to come."
Autodesk (ADSK) pulled back from its high point, but remained up
by almost 3% at $56.28. The design-automation software company
reported a fourth-quarter profit of 40 cents a share on $587
million in revenue, while analysts forecast a profit of 32 cents a
share on sales of $571 million.
TiVo Inc. (TIVO) climbed more than 5%, to $13.50 a share, after
the digital TV recorder developer said it swung to a fiscal
fourth-quarter profit of $710,000, or a penny a share, on $106.3
million in revenue, compared to a loss of $15.8 million, or 13
cents a share, on sales of $88.9 million a year ago. TiVo said it
added 319,000 subscribers in the quarter and it expects to benefit
from Comcast Corp.'s (CMCSA) acquisition of Time-Warner Cable
(TWC).
Online retailer Zulily Inc. (ZU) kept up its torrid pace of
gains this week, rising another 12%, to $68.98 a share. Since
delivering its first quarterly report as a public company on
Monday, Zulily's shares have risen 61%.
Gains also came from Apple Inc. (AAPL), Yahoo Inc. (YHOO),
Microsoft Corp. (MSFT) and eBay Inc. (EBAY).
The Nasdaq Composite Index (RIXF) rose 8 points to 4,300, and
the Philadelphia Semiconductor Index (SOX) remained near its
breakeven point.
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