This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Adobe, Facebook, Quest: Tech Premarket

NEW YORK ( TheStreet) -- Adobe (ADBE - Get Report) shares tanked 6.14% to $30.87 before market open on Wednesday as investors responded to the company's tepid third-quarter guidance, released late on Tuesday.

The software maker comfortably beat Wall Street's second-quarter estimates, but warned of weakening demand in Europe.

Adobe was one of the most active premarket Nasdaq stocks on share volume of 149,088.

The recent momentum in Facebook (FB - Get Report) shares slowed early on Wednesday, as the social networker's stock slipped 0.41% to $31.78.

Early Wednesday, Evercore Partners initiated coverage of Facebook with an equal-weight rating and a $39 price target. The analyst firm sees Facebook's long-term prospects as very positive, but warned that the company's near-term is "incrementally negative."

Specifically, Evercore cited slowing desktop engagement, the potential displacement of Facebook's 30% cut on mobile virtual goods payments and the potential negative impact of lock-up agreements. "The company's lock-up expirations in late August are likely to place intensive technical pressure on shares," noted Evercore analyst Ken Sena.

Shares of the Menlo Park, Calif.-based firm closed up 1.6% on Tuesday.

Facebook partner Zynga (ZNGA - Get Report) crept up 0.34% to $5.99 early on Wednesday, after climbing more than 3% during Tuesday trading.

Quest Software (QSFT) fell 0.64% to $26.35 on Wednesday.

The company agreed to a higher buyout bid of $2.17 billion on Tuesday after Insight Venture Partners added Vector Capital as a member of the buyout group. The amendment to the previously announced merger agreement increased the deal's value from $23 a share in cash to $25.75 a share in cash.

The Aliso Viejo, Calif.-based firm was also one of the most active premarket Nasdaq stocks on share volume of 204,450.

--Written by James Rogers in New York.

>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.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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!
SYM TRADE IT LAST %CHG
ZNGA $2.41 0.84%
ADBE $78.62 1.28%
FB $81.21 0.39%
AAPL $126.41 -1.66%
GOOG $575.33 0.34%

Markets

DOW 18,135.72 +38.82 0.21%
S&P 500 2,101.04 +2.51 0.12%
NASDAQ 4,982.8090 +15.6680 0.32%

Partners Compare Online Brokers

Free Reports

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