Apple reported that in the period, it had revenue of $15.7 billion, compared to revenue of $9.73 billion in the year ago second quarter period. Profit came in at $3.25 billion or $3.51 on a per share basis, compared to quarterly profit of $1.83 billion or $2.01 per share in Q2 2009. Analysts had been forecasting revenue of $14.7 billion and earnings per share of $3.11.

For the current quarter, the company is forecasting revenue of $18 billion, against analysts’ forecasts of $17 billion and earnings of $3.44 per share, against analysts’ forecasts of $3.83.

In the period, Apple sold 8.4 million iPhones, up 61 percent from last year, 3.3 million iPads, 1.7 milion of the company’s latest iPhone, which just went on the market towards the end of the quarter and 3.47 million Macs, a 33% increase and 9.41 million iPods, which was an eight percent decline in unit sales.

Apple shares are up $9.37 or 3.72% on the news in pre-market trading this morning.

Operating income rose from a loss of $12 million in Q2 2009, to $3.98 billion, while net income rose to $2.88 billion, from a loss of $398 million Q2 2009. Results from the second quarter of 2009, were affected by a $1.06 billion fine that was levied on the company by the European Union.

The company’s gross margin, which is closely followed by analysts, rose to 67%, from 51% a year ago. Intel had previously announced that it expects to realize margins of 64%, plus or minus 2%.

On a per share basis, the company earned $0.51, compared to the $0.43 analysts had been forecasting, on revenues of $10.25 billion. The company had also provided its own revenue guidance of $10.2 billion, plus or minus $400 million.

Intel’s stock rose as much as $1.72 or 8.1% in after hours trading on the news.

The stock dropped $8.71 to close at $42.30, a loss of 17.06% in regular session trading.

Yesterday after the bell, the company reported that for the first quarter of 2010, it earned $10.8 million or $0.58 per share, which was a penny ahead of the consensus estimate of $0.57.

Revenue for the period was $152.3 million against forecasts of $154.4 million.

For the first quarter of 2010, the company reported revenue $1.04 billion and income from operations of $68.7 million, which works out to $0.29 per share. The company’s earnings actually declined 71% from the same period last year, while revenue declined 29%.

Analysts had been looking for revenue of $1.02 billion and earnings per share of $0.22.

For the first quarter period, Google is reporting revenues of $6.775 billion, from $5.509 billion in the same period a year ago. Net income was $1.955 billion from $1.423 in the Q1 period a year ago. Earnings on a per share basis, was $6.06 on a diluted basis, compared to $4.49 per share a year ago.

Traffic Acquisition Costs or TAC, which refers mostly to the fees Google pays to outside sites that display Google ads, came in at $1.71 billion. TAC totaled 26% of advertising revenues. On a non-GAAP basis, Google is reporting earnings of $6.76 per share.

Analysts had been looking for the company to report revenues of $4.954 billion and earnings of $6.60 per share. As can be seen, the company beat handily on both the top and bottom line. However, the stock is reportedly being sold off because there was an earnings whisper number of $6.76 per share.

For the fiscal 2010 third quarter period that ended February 28, 2010, Nike reported revenue of $4.7 billion, up 7% from the $4.4 billion reported in the same period of 2009.

Net income for the period was $496 million or $1.01 per diluted share, compared to $244 million or $0.50 per diluted share in the same period last year. Analysts had been looking for the company to report earnings of $0.89 per share on revenue of $4.59 billion.

Closeout retailer Big Lots (BIG) reports its latest earnings news on Monday. There is a very good likelihood the company beats estimates, which should send the shares higher.

Buy the Big Lots March 2010 32.50 calls. They are now trading at $1.90 by $2.05. Enter to $2.40. There is a fifteen cents spread between bid and ask, which is larger than what we prefer, but with a beat, we should see a $2-$3 pop in the stock.

The Options Capitalist is a subscriptions-based options trading recommendation service. More information about the service can be found here.

The Trade:

Buy the Hewlett Packard March 50 calls. The current ask is $1.62

For every three calls you purchase, buy 1 Hewlett Packard March 50 puts, which are currently asking $1.52.

We will post a follow up on this trade tomorrow Thursday February 18, 2010.

Navivest is a trading advisory services firm offering subscription-based trade recommendation services. For more information on our services, visit our website at http://www.navivest.com