Microsoft, RIM, Sourcefire: Tech Premarket
NEW YORK (TheStreet) -- Microsoft (MSFT) was a tech loser in premarket trading on Tuesday, falling 0.79% to $30.32 after announcing a $6.2 billion asset impairment charge late on Monday.
The charge is in relation to Microsoft's $6.3 billion acquisition of aQuantive in 2007, according to a statement released after market close. The software giant plans to record the "non-cash, non-tax-deductible income statement charge," in its fiscal fourth quarter ended in June.
Microsoft was also one of the most active premarket Nasdaq stocks on share volume of 46,678.
Shares of the Redmond, Wash.-based software giant closed down 0.1% during Monday's trading.
Research In Motion (RIMM) slipped 0.13% to $7.48 as investors continued to digest the company's ongoing woes. The embattled Canadian handset maker saw its shares tank on weaker-than-anticipated first-quarter results last week. Sourcefire (FIRE) was a major tech laggard on Tuesday, tumbling 1.72% to $51.50. Late Monday the network security specialist announced that CEO John Burris has taken a medical leave of absence to undergo a series of treatments for colon cancer. Chief Technology Officer Martin Roesch has been named interim CEO. "It is in my best interest and that of the Company that I take this time to focus on my health, while Marty and the rest of our proven and highly experienced executive team continue to execute the strategy we have developed together," explained Burris, in a statement released after market close. "I am committed to actively reengaging in the business as soon as my health permits." Sourcefire also announced preliminary second-quarter results, with revenue and adjusted earnings per share expected to be at the high end or slightly above management's guidance. The Columbia, Md.-based company had forecast revenue between $46.5 million and $48.5 million and adjusted earnings of 12 cents a share to 14 cents a share. Dell (DELL), which announced its $2.4 billion acquisition of Quest Software (QSFT) on Monday, dipped 0.36% to $12.34 before market open. The PC giant's shares were off 1% during Monday's trading. --Written by James Rogers in New York. Follow @jamesjrogers >To submit a news tip, send an email to: tips@thestreet.com.Select the service that is right for you!
COMPARE ALL SERVICESAction Alerts PLUS
TRY IT FREEJim 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
Dividend Stock Advisor
TRY IT FREENew! $49.95/yr
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
Stocks Under $10
TRY IT FREEDavid 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
Real Money
TRY IT FREE24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
Product Features:
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
Real Money Pro
TRY IT FREEAll 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 + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Options Profits
TRY IT FREEOur 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