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!

Facebook, Ericsson, Zynga: Tech Premarket

Stocks in this article: FB ERIC ZNGA

NEW YORK ( TheStreet) -- Facebook (FB) was a big tech loser before market open, falling 1.96% to $32.45 as the company emerges from its post-IPO quiet period.

Wednesday marks the end of the 40-day quiet period, which means that the IPO underwriters are now initiating coverage of the social networker, prompting a slew of research notes . J.P. Morgan, for example, initiated coverage of the social networker with an overweight rating and a year-end 2013 price target of $45. Goldman Sachs initiated its Facebook coverage with a buy rating and a $42, 12-month price target.

Citigroup, however, kicked off its Facebook coverage with a neutral rating and a $35 rating.

Facebook was also one of the most active Nasdaq stocks in premarket trading on share volume of 594,229.

Shares of the Menlo Park, Calif.-based firm closed up 3.24% during Tuesday's trading.

Telecommunications equipment provider Ericsson (ERIC) was a gainer in premarket trading, rising 0.35% to $8.66. The Swedish company was the most active pre-arket stock on heavy share volume of 1.5 million.

Social media specialist Zynga (ZNGA) crept up 0.43% to $5.79, rebounding slightly after shares plummeted almost 5% during Tuesday's trading. Investors were unimpressed by the company's announcement of new games and a new social network at its "Unleashed" event on Tuesday.

--Written by James Rogers in New York.

>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 17,778.15 +421.28 2.43%
S&P 500 2,061.23 +48.34 2.40%
NASDAQ 4,748.3960 +104.0840 2.24%

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