Dell, Facebook, Yelp, Apple: Tech Premarket
NEW YORK (TheStreet) -- Dell (DELL) was a big loser in premarket trading Wednesday, tumbling 2.89% to $12.79 as buyout rumors continue to swirl around the Texan tech giant.
The No. 3 PC maker was also one of the most active premarket Nasdaq stocks on share volume of 569,432.
Talks to take Dell private are at an advanced stage, according to Reuters. Citing two unnamed sources, Reuters reported that at least four major banks have been lined up to provide financing, with buyout specialist Silver Lake Partners leading the deal.
Dell has not yet responded to TheStreet's request for comment on this story.
Dell shares ended Tuesday's session up 7.16%. Yahoo! (YHOO), however, was a big gainer before market open on Wednesday, rising 2.2% to $19.95 on share volume of 407,400. Apple (AAPL) shares also rose, climbing 1.56% to $493.5 on share volume of 220,987. Facebook (FB) shares gained 0.7% to reach $30.31 before market open on Wednesday as investors continued to digest the company's new Graph Search announcement. Investors were underwhelmed by the social network's eagerly anticipated press event on Tuesday. Facebook's shares ended the day's session down 2.74%. The Menlo Park, Calif.-based company was another active premarket stock, on share volume of 277,694. Facebook's announcement continued to pressure shares of Yelp (YELP) on Wednesday. Shares of the user review and recommendation site, which closed down 6.19% on Tuesday, were off 2.52% to $20.09 before market open. Shares of ARM (ARMH) were under pressure in premarket trading on Wednesday, off 1.53% at $39.91, after closing down 4.41% on Tuesday. Early on Tuesday, UBS downgraded ARM to neutral from buy, but raised its price target to $43.43 from $36.19. UBS analyst Gareth Jenkins predicted the chip design specialist will "handsomely" beat Wall Street's expectations in its fourth-quarter results, but said that ARM needs to grow its multiples again. A company's multiple, or its share price compared to its earnings per share, is a key indicator of future earnings potential. Vodafone (VOD) was another laggard, falling 2.25% to $25.58 on share volume of 459,752. --Written by James Rogers in New York.Select the service that is right for you!
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