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!

Yahoo! Cognizant, Sirius XM: Premarket Movers

Stocks in this article: YHOO CTSH SIRI

NEW YORK ( TheStreet) -- Yahoo! (YHOO) was one of tech's winners in premarket trading as the company's shares climbed 1.12% to $15.32.

The embattled Internet giant has hardly been out of the news recently. Late last week, for example, a news report emerged that Yahoo! is in talks to sell part of its 40% stake in Alibaba back to the Chinese e-commerce giant. Citing a person familiar with the matter, Reuters reported that the sale of 15% to 25% of Yahoo!'s stake could be weeks away.

During its first-quarter conference call last month, Yahoo! said that it's pursuing active discussions with Alibaba to monetize a portion of its stake.

Activist investor Dan Loeb has also been cranking up the pressure on Yahoo! CEO Scott Thompson. Last week Loeb accused Thompson of lying on his resume, just a day after Yahoo! sent a letter to shareholders urging them to support the company's board in its unfolding proxy battle with Loeb's Third Point.

Shares of business process outsourcing specialist Cognizant (CTSH) plunged as investors responded to the company's first-quarter results, released early on Monday.

The Teaneck, N.J.-based firm reported revenue of $1.17 billion, a 24.8% hike on the prior year's quarter, and in line with analysts' estimate. Excluding items, Cognizant earned 86 cents a share, up from 71 cents in the same period last year and above analysts' estimate of 81 cents.

Cognizant, however, noted a slower-than-anticipated acceleration in demand entering the second quarter, and revised its guidance to at least 20% revenue growth for 2012. Earlier this year, the company had predicted sales of growth of at least 23%.

Shares of Cognizant plunged 12.14% to $61.20 on news of the lowered guidance.

Sirius XM (SIRI), which reported first-quarter results on Wednesday, was one of the most active Nasdaq stocks in premarket trading. Shares of the satellite radio company crept up 0.93% to $2.14 on share volume of 545,559.

--Written by James Rogers in New York.

>To follow the writer on Twitter, go to

>To submit a news tip, send an email to:

Check out our new tech blog, Tech Trends. Follow TheStreet Tech on your wireless devices.

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 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

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