Photo: Andrew Burton
U.S. markets remain firmly in the green this afternoon, led higher by financials and technology firms. The NASDAQ is up more than 1.3% already. Below, a list of the biggest winners and losers on Wall Street today:
Linear Technology (LLTC): Up 10.6% — Linear, the manufacturer of semiconductors, forecast that revenue during would rise 4% to 8% for the third quarter, topping analyst estimates by $3 million to $14 million. The company cited order improvements during the period.
Goldman Sachs (GS): Up 6.8% — Goldman Sachs shares rallied after it reported earnings above analyst expectations. The company took a knife to compensation, which boosted EPS to $1.84. Revenue out of the company’s fixed income and commodity trading division remained soft.
Micron Technology (MU): Up 6.7% — News surfaced today that Japanese chip maker Elpida would work with Micron Technology in the dynamic random access memory business, to cut costs. Prices have remained weak in the DRAM market, and a partnership could help the two reduce excess supply.
Sunoco (SUN): Down 11.6% — The energy company was hit with a strong price cut by analysts at RBC today, lowered 18% to $33. The news follows Sunoco’s announcement that it had completed the divestiture of SunCoke Energy common stock to shareholders.
Apollo Group (APOL): Down 7.3% — Apollo Group, the owner of the largest online university, The University of Phoenix, was hit after news surfaced that the Obama administration would bypass Congress to make cutbacks on military funds.
State Street (STT): Down 6.2% — The third-largest custody bank missed analyst expectations this morning when it reported quarterly earnings of $435 million, or 87 cents. Analysts polled by Bloomberg were looking for 94 cents. State Street drove earnings though cost cuts and headcount reduction.