This Day On The Street
Continue to site
ADVERTISEMENT
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, HP, Apple: Tech Premarket

NEW YORK ( TheStreet) -- Cisco (CSCO - Get Report) was one of a number of tech sector gainers in premarket trading Monday, climbing 0.67%% to reach $18.11, as investors digested the networking giant's latest acquisition.

Late on Sunday, Cisco announced a $1.2 billion deal to acquire privately held cloud networking specialist Meraki.

"The acquisition of Meraki enables Cisco to make simple, secure, cloud managed networks available to our global customer base of mid-sized businesses and enterprises," said Rob Soderbery, senior vice president of Cisco's Enterprise Networking Group, in a statement. "Meraki's solution was built from the ground up optimized for cloud, with tremendous scale, and is already in use by thousands of customers to manage hundreds of thousands of devices."

The acquisition, which follows Cisco's $125 million purchase of Cloupia announced last week, is expected to close in Cisco's fiscal second quarter.

Cisco's shares gained 6.96% during last week's trading after the San Jose, Calif.-based company reported better-than-expected fiscal first-quarter results.

Shares of HP (HPQ - Get Report), which reports its fourth-quarter results after market close on Tuesday, gained 1.09% to reach $12.99 before market open on Monday, despite concerns about the PC environment following rival Dell's (DELL - Get Report) third-quarter miss last week.

Dell's top line felt the weight of falling desktop and mobility revenue, much to the chagrin of investors. Shares of the No. 2 PC maker ended Friday down 7.33%, but gained 1.14%% to reach $8.96 before market open on Monday.

Apple (AAPL - Get Report) was another winner in premarket trading, rising 1.3% to reach $534.55 on share volume of 109,619, while Facebook (FB - Get Report) rose 1.27% to $23.86 on share volume of 74,164.

Sirius XM (SIRI - Get Report) RIM (RIMM) and Yahoo! (YHOO) shares rose 1.12%, 1.96% and $1.06%, respectively, reaching $2.72, $9.38 and $18.05.

--Written by James Rogers in New York.

>To submit a news tip, send an email to: tips@thestreet.com.

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
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
DELL $0.00 0.00%
AAPL $132.54 0.88%
CSCO $29.26 -0.58%
FB $80.58 0.12%
HPQ $34.76 2.75%

Markets

DOW 18,232.02 -53.72 -0.29%
S&P 500 2,126.06 -4.76 -0.22%
NASDAQ 5,089.3620 -1.4320 -0.03%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs