U.S. stocks are trading higher Friday on 21th May, 2010 at 3:55PM EDT as the Dow Jones Industrial Average rose 103 points to 10171, the Standard & Poor’s 500 jumped 15 points to 1087 and the Nasdaq Composite climbed 23 points to 2227.
PC maker Dell Inc. (NASDAQ:DELL, $13.31, -$1.01, -7.04%) on Thursday reported its first-quarter net income rose 52 percent, but its gross margin fell short of analysts’ forecasts, helped by increased sales of enterprise solutions to commercial customers. Dell reported first-quarter net income rose to $441 million, or 22 cents per share, compared with $290 million, or 15 cents per share and revenue rose 21 percent to $14.87 billion from $12.34 billion in the same quarter a year earlier.
Gap Inc. (NYSE:GPS, $22.08, +$0.34, 1.56%), the largest U.S. clothing chain on Thursday reported its first quarter net income rose 40 percent as a key revenue measure increased at all its brands. Gap Inc reported first-quarter net income rose to $302 million, or 45 cents per share, compared with $215 million, or 31 cents per share and evenue rose 6.4 percent to $3.33 billion from $3.13 billion in the same quarter a year earlier.
Networking solutions provider Brocade Communications Systems, Inc. (NASDAQ:BRCD, $5.34, -$0.53, -8.99%) on Thursday reported second-quarter profit from a loss in the same period a year ago, quarterly revenue missed Wall Street expectations. Brocade reported second-quarter net profit of $22.4 million, or 5 cents per share, compared with a loss of $66.1 million, or 17 cents per share and revenue fell 1.1 percent to $501.0 million from $506.3 million in the same quarter a year earlier.
Chip maker Marvell Technology Group Ltd. (NASDAQ:MRVL, $19.23, +$1.39, 7.79%) on Thursday reported first-quarter profit by higher sales of mobile device chips. Marvell Technology Group reported first-quarter net income of $205.8 million, or 30 cents per share, compared a loss of $111.5 million, or 18 cents per share and revenue rose 64 percent to $855.6 million from $521.4 million in the same quarter a year earlier.
Online business software maker Salesforce.com (NYSE:CRM, $83.41, +$4.38, 5.54%) on Thursday reported first-quarter profit fell 3.7 percent, but rose revenue. Salesforce.com reported first-quarter net income of $17.7 million, or 13 cents per share, compared with $18.4 million, or 15 cents per share and revenue rose 23.6 percent to $376.8 million from $304.9 million in the same quarter a year earlier.
Women’s clothing retailer AnnTaylor Stores Corp. (NYSE:ANN, $21.85, +$1.62, 8.01%) on Friday reported first-quarter profit by strong performances at both its namesake and Ann Taylor Loft stores and more full-price purchases. Ann Taylor Stores reported first quarter net income of $22.6 million, or 38 cents per share, compared with a loss of $2.3 million, or 4 cents per share and revenue climbed 12 percent to $476.2 million from $426.7 million in the same quarter a year earlier.