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!

Apple, Mellanox, Netflix, Microsoft: Tech Premarket

NEW YORK (TheStreet) -- Apple (AAPL) was a big loser in premarket trading on Thursday, plunging more than 9% as investors balked at the company's fiscal first-quarter results.

The iPhone maker's shares were off 9.67% to $464.31 before market open after Apple's revenue trailed forecasts, earnings per share fell and profit margins shrank.

Apple generated revenue of $54.5 billion in its fiscal first quarter, up from $46.33 billion a year earlier but below analysts' forecasts of $54.73 billion. It earned $13.81 a share, down from $13.87 a year earlier yet above analysts' estimate of $13.47.

The company's gross margin was 38.6% compared with 44.7% in the year-ago quarter.

The Cupertino, Calif.-based company, which has been stung by rumors of weaker demand, sold 47.8 million iPhones during the quarter, up from 37 million a year earlier.

Apple was also the most active premarket Nasdaq stock on share volume of 1,214,897.

Mellanox (MLNX) was an even bigger loser, plunging 20% to $41.35 after reporting its fourth-quarter results on Wednesday and delivering weaker-than-expected guidance.

Shares of Symantec (SYMC), which announced its new strategy on Wednesday, fell 2.98% to $20.82 before market open. Stifel Nicolaus downgraded the company to hold from buy on Thursday, citing limited near-term stock upside.

Research In Motion (RIMM) was another laggard, falling 3% to $16.83. The embattled Canadian handset maker was also one of the most active premarket Nasdaq stocks on share volume of 504,657.

Microsoft (MSFT), which reports its fiscal second-quarter results after markets close Thursday, was down 0.04% at $27.60 in premarket trading.

Netflix (NFLX), however, was a massive gainer, rising 39.62% to $144.17 after better-than-expected fourth-quarter results on Wednesday.

The Los Gatos, Calif.-based firm added 2 million U.S. video-streaming subscribers during the quarter and posted a profit of $8 million. Analysts were expecting a loss.

"We added more than 2 million members in Q4 to end the year with over 27 million domestic members," wrote Netflix CEO Reed Hastings, in a letter to shareholders. "Our holiday season was particularly strong, driven by consumers buying new electronic devices, including tablets and smart TVs."

Netflix was another active premarket Nasdaq stock on share volume of 112,535.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
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 16,919.59 +80.85 0.48%
S&P 500 1,981.60 +9.86 0.50%
NASDAQ 4,527.5140 +19.2020 0.43%

Brokerage Partners

Rates from Bankrate.com

  • 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