NEW YORK (TheStreet) -- Cisco (CSCO) was one of the big gainers in pre-market trading on Thursday as investors welcomed the company's solid fourth-quarter results, released after market close on Wednesday.
The networking giant also surprised investors by hiking its quarterly dividend by 75% to 14 cents a share.
Cisco brought in revenue of $11.7 billion, up from sales of $11.2 billion in the same period last year, and above analysts' estimate of $11.6 billion.
Excluding items, Cisco earned 47 cents a share, compared to 40 cents a share in the prior year's quarter. Analysts surveyed by Thomson Reuters were looking for earnings of 45 cents a share.Cisco's shares climbed 7.78% to $18.70 before market open. The Juniper (JNPR) and HP (HPQ) rival was also the most active Nasdaq stock on share volume of 4,658,080. Electronic Arts (EA) was another climber, gaining 12.22% to reach $14.69 on share volume of 420,990. The hike followed a New York Post report that the company is exploring a sale. The video game giant has been approached by private equity firms KKR and Providence Equity Partners about a potential sale, according to the report. Neither Electronic Arts nor Providence Equity Partners have not yet responded to TheStreet's request for comment on this story. A spokesperson for KKR said that the company doesn't comment on rumors and speculation. Storage specialist NetApp (NTAP) also rose before market open, climbing 4.73% to $33.25 after it beat analysts' profit estimate in its second-quarter results on Wednesday and offered robust guidance. Facebook (FB), however, was a pre-market laggard, falling 2.64% to $20.64. The social networking phenomenon was also one of the most active pre-market Nasdaq stocks on share volume of 1,519,290. --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
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- 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 + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV