Dell, Qualcomm, Apple: Tech Premarket
NEW YORK (TheStreet) -- Dell (DELL) was a loser in premarket trading on Friday, tumbling 2.51% to $9.32, after the No. 2 PC maker missed Wall Street's top- and bottom-line estimates in its third-quarter results.
Excluding items, Dell earned 39 cents a share on revenue of $13.7 billion. Analysts surveyed by Thomson Reuters were looking for earnings of 40 cents a share and sales of $13.89 billion.
Like a number of tech companies, which have cited spending headwinds this earnings season, Dell's sales fell 11% year over year, as desktop and mobility revenue decreased.
The Round Rock, Texas company also gave weaker-than-expected fourth-quarter guidance, projecting sales between $13.97 billion and $14.38 billion. Wall Street was looking for revenue of $14.48 billion.Dell was also one of the most active premarket Nasdaq stocks on share volume of 142,557. Qualcomm (QCOM), which hosted its financial analyst day in San Diego on Thursday, slipped 0.02% to $61.27 in premarket trading. At its analyst event, the chipmaker announced that it's sampling its third-generation Gobi 4G LTE chipsets to OEM customers, and also unveiled a partnership with Cisco (CSCO) to speed up indoor location services. On Friday, before market open, the company's Qualcomm Technologies subsidiary also announced that it has acquired the assets of Israeli digital positioning company EPOS Development. Vodafone (VOD) shares climbed 0.48% to $23.51 in premarket trading, while Apple's (AAPL) stock was up 0.73% to $529.48. Facebook (FB) shares gained 0.36% to reach $22.25, while Sirius XM (SIRI) was down 0.38% to $2.64. --Written by James Rogers in New York. Follow @jamesjrogers >To submit a news tip, send an email to: email@example.com.
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