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Cisco, Facebook, Apple: Tech Winners & Losers

NEW YORK (TheStreet) -- Cisco (CSCO) shares jumped 5.99% to $17.86 after the networking giant posted better-than-expected first quarter results.

Cisco reported non-GAAP earnings of 48 cents a share on revenue of $11.88 billion. A year ago, Cisco earned 43 cents a share on revenue of $11.27 billion.

Analysts surveyed by Thomson Reuters called for earnings of 46 cents a share on revenue of $11.77 billion.


Shares of Facebook (FB) soared 9.42% to $21.73 as the lockup period for company insiders expired, unleashing some 800 million shares available for trade.

This is the second lock-up expiration that Facebook has dealt with since going public in mid-May. The first lock-up was up in August, releasing some 270 million shares.

Facebook also announced a social jobs app in conjunction with the Department of Labor, described as "a new tool that will make it easier for people on Facebook to find and share employment opportunities."


Apple (AAPL) shares are slightly lower, off 0.06% to $542.57 as one of its key component suppliers, Samsung, has denied rumors of a 20% price hike.

A Samsung official commented to a South Korean newspaper that rumors of a 20% price hike on application processors (AP) are untrue. The anonymous official said prices are set at the start of the year, and changes to the pricing structure are not easy to do.

Interested in more on Apple? See TheStreet Ratings' report card for this stock.

--Written by Chris Ciaccia in New York

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