NEW YORK (
(YHOO - Get Report)
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
back to the Chinese e-commerce giant. Citing a person familiar with the matter,
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
Thompson of lying on his resume, just a day after Yahoo! sent a letter to shareholders urging them to
the company's board in its unfolding proxy battle with Loeb's Third Point.
Shares of business process outsourcing specialist
(CTSH - Get Report)
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.
(SIRI - Get Report)
, which reported
on Wednesday, was one of the most active
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.
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