4 Tech Stocks in Focus From Friday

by: Alex Shadunsky

These four tech stocks saw increased interest from traders on Friday as company releases led to increased trader interest and trading volume.

Micron (NASDAQ:MU) – This was one of the biggest losers on Friday, down 14%, after it announced disappointing Q3 results. Micron missed both bottom and top-line estimates. It was not all bad news as the company managed to boost its gross margin to 22% from 19% in Q2 primarily to decreases in manufacturing costs. Revenue was lower from both DRAM and NAND products as the former suffered from a decrease in sales volume and the latter a decrease in ASPs. In a related move, SanDisk (SNDK), another memory company, fell over 9% in response to Micron’s results.

Oracle (NASDAQ:ORCL) – This large cap tech stock fell 4% despite beating EPS estimates. Some noted that the culprit was the disappointing hardware sales as they fell 6% to $1.2 billion; the company predicted growth in March. Software sales were strong as new software licenses were up 19% while software license and product support revenues were 15% higher. Oracle noted that its Exadata and Exalogic systems made a strong contribution to its growth in Q4; today there are more than 1,000 Exadata machines installed worldwide and Oracle’s goal is to triple that number in FY12.

Brocade Communication Systems (NASDAQ:BRCD) – The stock was also a loser, falling more than 7%. The company announced that Richard Deranleau, Brocade chief financial officer, left the company effective as of June 20 to pursue other interests and that Dan Fairfax has been appointed Brocade's new chief financial officer. Mr. Fairfax previously served as Brocade vice president of Global Services from August 2009 to June 2011 and Brocade vice president of Business Operations from January 2009 to August 2009.

Tibco Software (NASDAQ:TIBX) One of the few gainers Friday, rising just over 1% after Tibco beat both EPS and revenue estimates. Management noted that it experienced a strong mix of business across major industries including financial services, telecommunications, energy, government, transportation & logistics, retail, life sciences, manufacturing and insurance. The company also said that it closed 119 deals over $100k and had 21 deals over $1 million during the quarter.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.