Perion, Apple, Facebook: Tech Premarket
NEW YORK (TheStreet) -- Perion Network (PERI) was a big gainer in premarket trading on Tuesday after the company delivered a better-than expected revenue estimate and bullish guidance.
In a statement, the Internet application specialist said that 2012 fiscal fourth-quarter revenue is expected to reach a record $21 million, more than double the prior year's quarter. This will bring Perion's total non-GAAP revenue for 2012 to $61 million, a 64% increase on the prior year. The $61 million figure also exceeds the firm's updated guidance of $55 million.
For fiscal 2013, Perion expects revenue to exceed $110 million.
Investors welcomed the numbers, pushing Perion shares up 18.31% to $11.18 before market open. The Israeli firm was also one of the most active premarket Nasdaq stocks on share volume of 174,470.
Perion intends to report final 2012 financial results at the beginning of March. Apple (AAPL) was another premarket winner on Tuesday, rising 1.16% to $530 on share volume of 96,062. Social networking phenomenon Facebook (FB) was a more modest gainer, rising 0.47% to $29.56 on share volume of 226,746. Shares of satellite radio giant Sirius XM (SIRI), however, dipped 0.33% to $3.07 on share volume of 313,193, while Vodafone (VOD) fell 0.79% to $26.33 on share volume of 379,473. HP (HPQ), which announced a host of new products at CES on Monday, gained 0.26% to reach $15.21. Intel (INTC), which was also busy at CES, rose 0.24% to $21.30. Get the latest news coming out of CES with TheStreet's live blog: --Written by James Rogers in New York. Follow @jamesjrogers >To submit a news tip, send an email to: tips@thestreet.comSelect the service that is right for you!
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