Stock Alert: NetApp Shares Up 9%

Shares of NetApp Inc. (NTAP) are currently trading at $59.22, up $5.06 or 9.34% Wednesday morning. The stock has been trading in the range of $34.66 – $65.38 for the past one year. Trading volume is rising over 1.97 million versus an average volume of 2.18 million shares.

The company’s second-quarter profit dropped to $137 million or $0.61 per share from $243 million or $1.03 per share last year. Adjusted earnings were $236 million or $1.05 per share. Revenues rose 3.6% to $1.42 billion from $1.37 billion last year. Analysts polled by Thomson Reuters expected earnings of $0.73 per share on revenues of $1.31 billion.

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