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

Cisco, AMD, Zynga: Tech Premarket

NEW YORK ( TheStreet) -- Cisco (CSCO - Get Report) was a big winner in premarket trading on Wednesday as investors welcomed the networking giant's first-quarter results released late Tuesday.

The San Jose, Calif.-based company delivered some good news in a generally underwhelming tech earnings season, comfortably beating Wall Street's estimates and offering healthy guidance.

Cisco reported first-quarter revenue of $11.88 billion and earnings of 48 cents a share, up from $11.27 billion and 43 cents a share in the prior year's quarter. Analysts surveyed by Thomson Reuters were looking for sales of $11.77 billion and earnings of 46 cents a share.

For its second quarter, Cisco predicted revenue between $11.9 billion and $12.1 billion and earnings of 47 cents to 48 cents a share. Analysts had projected revenue of $12.02 billion and earnings of 47 cents a share.

Cisco shares rose 7.36% to $18.09 in premarket trading on Wednesday.

AMD (AMD - Get Report) shares fell 1.91% to $2.05 in premarket trading after the No. 2 chipmaker denied a rumor that it could be up for sale.

On Tuesday, Reuters reported that the Austin-based firm has hired JP Morgan Chase to explore options, which could include a sale. The report helped drive AMD shares higher during Tuesday's trading, ending the day up 5.03%.

Shares of Zynga (ZNGA - Get Report), which announced the departure of its Chief Financial Officer late on Tuesday, rose 1.42% to $2.14 before market open. Wehner left Zynga on Tuesday to pursue "a senior finance position" at Facebook (FB - Get Report), the company said.

"Dave remains a good friend to us all and we wish him success in his next role," said Zynga CEO Mark Pincus, in a statement.

Mark Vranesh, Zynga's chief accounting officer, has replaced Wehner, one of a number of executive changes announced by the San Francisco-based company.

Zynga also reaffirmed its 2012 financial outlook.

Facebook shares slipped 0.91% to $19.68 in premarket trading.

Apple (AAPL - Get Report) was a modest gainer before market open, rising 0.24% to $544.21.

--Written by James Rogers in New York.

>To submit a news tip, send an email to:

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
ZNGA $2.38 0.00%
AAPL $93.74 0.00%
AMD $3.55 0.00%
CSCO $27.49 0.00%
FB $117.58 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs