This Day On The Street
Continue to site
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

Aruba, Salesforce, Apple: Tech Premarket

NEW YORK ( TheStreet) - Aruba Networks (ARUN) shares surged 12.65% to $19.06 before market open on Friday, boosted by the company's fourth-quarter revenue hike.

The Sunnyvale, Calif.-based firm, which makes equipment for telecom networks, saw its sales rise 22% to $139.2 million for the three-month period ending in July. Excluding items, Aruba earned 18 cents a share in the quarter, up from 17 cents a share in the prior year's quarter. Analysts were looking for sales of $136.8 million and earnings of 17 cents a share in Aruba's fiscal fourth quarter.

"Our traditional core verticals performed well in the quarter and we saw continued growth among the general enterprise," explained Aruba CEO Dominic Orr, in a statement released after market close on Thursday. "We believe that demand for wireless LAN networks remains solid."

Aruba was also one of the most active pre-market Nasdaq stocks on share volume of 55,878.

Autodesk (ADSK - Get Report), however, was a big loser after the company's disappointing second-quarter results, released on Thursday.

"Our own execution challenges, combined with an uneven global economy, resulted in disappointing revenue results for the quarter," noted Autodesk CEO Carl Bass, in a statement.

The computer-aided-design (CAD) software specialist plans to make job cuts in an attempt to combat the tough macroeconomic environment.

Shares of San Rafael, Calif.-based Autodesk plunged 22.99% to $27.50 before market open. Autodesk was also one of the most active pre-market Nasdaq stocks on share volume of 253,897. (CRM - Get Report), however, was another big loser in pre-market trading as investors responded to the company's second-quarter results, released on Thursday.

As predicted, the customer relationship management (CRM) specialist flew past Wall Street's top and bottom line forecasts, although its earnings guidance weighed heavily on its shares.

For its fiscal third quarter, projected earnings between 31 cents and 32 cents a share, below Wall Street's estimate of 34 cents. Investors balked at the outlook, pushing shares down in after-hours trading.

The San Francisco-based company, which is one of TheStreet's top cloud stocks, saw its shares slump 4.01% to $140.88 in pre-market trading.

Apple (AAPL - Get Report), which hit a new all-time high of $674.88 on Tuesday, slipped 0.17% to $661.48.

HP (HPQ - Get Report), which saw its shares slump more than 8% on Thursday following its third-quarter results earlier this week, gained 0.14% to reach $17.66.

-- 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

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
Only $9.95
14-Days Free
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
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
ARUN $0.00 0.00%
AAPL $92.66 -0.63%
ADSK $58.77 0.53%
CRM $74.21 0.54%
HPQ $11.62 1.50%


Chart of I:DJI
DOW 17,734.44 +73.73 0.42%
S&P 500 2,055.44 +4.81 0.23%
NASDAQ 4,726.6620 +9.5680 0.20%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs