Earnings-related news hit the Nasdaq hard today as the latest results from Google
Google was off about $50 per share, or 8%, in morning trading. The company announced yesterday afternoon that it earned $8.22 per share, falling well short of consensus expectations of $9.06 per share. Although gross revenue jumped 25% to a record $10.58 billion, it also fell short of estimates. But concerns about higher costs from branching out beyond its core search-engine business weighed on the stock. Ad prices also fell. In response to the news, analyst Pacific Crest lowered its price target on the stock from $800 to $725 this morning.
Among other tech giants, Intel
Lastly, Intuitive Surgical
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Fool contributor Dan Caplinger doesn't own shares of the companies mentioned. You can follow him on Twitter here. The Motley Fool owns shares of Intel, Microsoft, and Google. Motley Fool newsletter services have recommended buying shares of Google, Microsoft, Intuitive Surgical, and Intel, as well as creating a bull call spread position in Microsoft. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Fool has a disclosure policy.