This Day On The Street
Continue to site
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

Cirrus, Intel, Yahoo!: Tech Premarket

NEW YORK ( TheStreet) -- Shares of Cirrus Logic (CRUS - Get Report) plunged 8.45% to $19.60 before market open as investors responded to the component maker's weaker-than-expected first-quarter guidance.

The Apple (AAPL - Get Report) partner released its preliminary fourth-quarter results late on Tuesday.

"We feel investors have been waiting for expectations to be reset lower following broadly held concerns over iPhone 5 and iPad 4 demand," wrote Bobby Burleson, an analyst at Cannacord Genuity, in a note released on Tuesday. Cannacord lowered its Cirrus price target to $25 from $30.

Cirrus Logic was also one of the most active pre-market Nasdaq stocks on share volume of 250,690.

Intel (INTC - Get Report) dipped 0.89% to $21.72 despite edging past Wall Street's sales estimate in its first-quarter results on Tuesday.

The chipmaker earned 40 cents a share, down from 53 cents a share in the prior year's quarter. Intel reported revenue of $12.6 billion, compared to $12.9 billion for the same period last year. Analysts surveyed by Thomson Reuters were looking for earnings of 41 cents a share and revenue of $12.59 billion.

Intel reported a gross margin of 56%, at the low end of the company's guidance, and down 8 percentage points year over year.

The No. 1 chip maker expects second-quarter revenue of $12.9 billion, plus or minus $500 million, broadly in line with Wall Street's forecast of $12.85 billion. Intel also predicts a gross margin of 58%, plus or minus a couple of percentage points.

The Santa Clara, Calif.-based company was another active pre-market Nasdaq stock on share volume of 733,196.

Yahoo! (YHOO - Get Report) shares fell 2.1% to $23.29 after the company's first-quarter results, released late on Tuesday. The Internet giant was also the most active pre-market Nasdaq stock on share volume of 2,078,842.

Despite beating Wall Street's earnings projection, Yahoo! missed on revenue and guidance was weaker than anticipated.

Apple (AAPL - Get Report) shares were off 0.91% to $422.34, while Sirius XM (SIRI - Get Report) slipped 0.49% to $3.03.

-- Written by James Rogers in New York.

>To submit a news tip, send an email to:

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
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $95.03 -2.90%
CRUS $36.43 -4.41%
INTC $31.11 -2.02%
SIRI $3.92 -1.51%
YHOO $36.59 -0.97%


Chart of I:DJI
DOW 17,830.76 -210.79 -1.17%
S&P 500 2,075.81 -19.34 -0.92%
NASDAQ 4,805.2910 -57.85 -1.19%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs