Brocade, SINA, Zynga: Premarket Movers
NEW YORK (TheStreet) -- Shares of network storage specialist Brocade (BRCD), which reports its second-quarter results after market close on Thursday, slipped in premarket trading.
Early on Wednesday, the company announced several changes to its sales leadership in an attempt to improve focus and drive growth within key business areas.
Shares of Brocade, which have dipped almost 4% this year, were down 1.4% to $4.92 in premarket trading.
TheStreet Ratings downgraded Brocade to hold from buy on Wednesday with weak stock performance and a disappointing return on equity offsetting strength in net income and revenue growth.
SINA (SINA) was one of the most active Nasdaq stocks in premarket trading on Wednesday after the Chinese Internet giant reported better-than-expected first-quarter results. Investors shrugged off the company's warning of future losses tied to increased investment in micro-blogging site Weibo. SINA's stock rose 12.48% to $58.13 on share volume of 308,267. Social gaming specialist Zynga (ZNGA) was also active in premarket trading. Shares of the key Facebook (FB) partner rose 1.75% to $8.71 on share volume of 285,982. --Written by James Rogers in New York. >To follow the writer on Twitter, go to http://twitter.com/jamesjrogers. >To submit a news tip, send an email to: tips@thestreet.com. Check out our new tech blog, Tech Trends. Follow TheStreet Tech on your wireless devices.Select the service that is right for you!
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