NEW YORK ( TheStreet) -- VMware (VMW - Get Report) was one of the big losers in premarket trading on Tuesday, slipping 3.06% to $86.50 as investors responded to the company's acquisition of network virtualization software maker Nicira.
The virtualization giant announced the deal, as well as its second-quarter results, after market close on Monday. VMware will pay more than $1 billion in cash for Nicira.
Cisco (CSCO - Get Report) was another premarket loser, dipping 1.37% to $15.85 as investors responded to the company's latest round of job cuts. The Dow component announced plans to cut 2% of its total work force on Monday.
At the end of its fiscal third quarter in May, Cisco had 65,223 employees worldwide.Baidu (BIDU - Get Report), however, was a major gainer, climbing 5.79% to $113.30 following strong second-quarter results, released on Monday. Shares of Apple (AAPL - Get Report), which reports its third-quarter results after market close, rose 0.57% to $607.25 before market open. The iPhone maker was also one of the most active premarket Nasdaq stocks on share volume of 106,652. TheStreet will be live-blogging Apple's third-quarter earnings, starting at 3:45 p.m. EDT. --Written by James Rogers in New York. Follow @jamesjrogers >To submit a news tip, send an email to: firstname.lastname@example.org. Check out our new tech blog, Tech Trends. Follow TheStreet Tech on your wireless devices.
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