This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Tech Premarket: Facebook, Cisco, Apple

Stocks in this article: FB CSCO AAPL S HPQ RIMM CLWR

NEW YORK ( TheStreet) -- Facebook (FB), which hosts a major press event at its headquarters in Menlo Park, Calif., on Tuesday, was a big gainer in premarket trading.

Shares of Facebook rose 1.73% to $32.27 before market open on Monday, as attention focused again on the social networking phenomenon. Facebook was also the most active premarket Nasdaq stocks on share volume of 601,433.

Deutsche Bank upgraded Facebook to buy from hold on Monday, and raised its price target to $40 from $24, citing improving prospects in 2013.

"We still think a 'one quarter at a time' approach is warranted given heightened expectations and all the potential revenue opportunities, but the future looks bright," wrote Deutsche Bank analyst Ross Sandler.

TheStreet will be attending and live-blogging Facebook's press event from 12:30 p.m. EST on Tuesday:

Cisco (CSCO) was another gainer in premarket trading on Monday, boosted by upgrades from Baird Equity Research and William Blair.

Shares of Cisco rose 1.03% to $20.69 after Baird upgraded the company to outperform and raised its price target to $25 from $21.

"Our channel checks indicate that Cisco is executing very well amidst a challenging macro," wrote Baird analyst Jayson Noland, in a note. "We believe the company has emerged stronger post its restructuring efforts, and we see less gross margin downside going forward than experienced in recent years."

Noland added that Cisco is Baird's "best large-cap idea" for 2013.

William Blair upgraded Cisco to outperform from market perform on Monday, noting that the networking giant is moving past its "midlife crisis."

"We believe the company has emerged from a difficult, soul-searching period significantly leaner, focused, and more self-aware," wrote William Blair analyst Jason Adler, in a note. Cisco, he added, has recommitted to its core switching and routing businesses, exited the consumer business, restructured its costs, reduced management bureaucracy and given realistic financial goals to Wall Street. The analyst also pointed to Cisco's decision to join tech's dividend payers as a positive.

HP (HPQ) was another gainer, rising 1.61% to $16.42 after JP Morgan upgraded the No. 1 PC maker to neutral from underweight and raised its price target to $21 from $15.

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs