Mellanox, Clearwire, eBay: Tech Premarket
NEW YORK (TheStreet) - Mellanox (MLNX) was a big loser in premarket trading on Thursday, tumbling 14.75% to $83.67 after the server and storage specialist's third-quarter results.
Despite beating Wall Street's estimates after market close on Wednesday, the company's shares went into free fall on weaker-than-expected guidance.
For the fourth quarter, Mellanox expects revenue between $145 and $150 million, well below the consensus estimate of $157 million.
Mellanox, which competes with Broadcom (BRCM), Emulex (ELX) and QLogic (QLGC), predicts a slowdown in large deals during the fourth quarter.
Clearwire (CLWR) was another laggard in premarket trading on Thursday falling 5.31% to $2.14 after The Wall Street Journal reported that partner Sprint's (S) in talks to gain control of the Clearwire board. EBay (EBAY), which reported its third-quarter results on Wednesday and raised its full-year guidance, was up 0.73% to $48.55. Apple (AAPL), which will host a major press event in San Jose, Calif., next week, was down 0.53% to $641.18. --Written by James Rogers in New York. Follow @jamesjrogers >To submit a news tip, send an email to: tips@thestreet.com.Select the service that is right for you!
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