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Vodafone Moves on Possible Verizon Deal: Tech Premarket

NEW YORK ( TheStreet) --

Vodafone (VOD) shares were higher by 3.8% to $30.72 in premarket trading Thursday after a Reuters report said Verizon (VZ - Get Report) hired advisers in advance of a potential $100 billion cash and stock bid to acquire the 45% of Verizon Wireless it doesn't already own.

Reuters noted a bid has not been made as of yet, but recent talk from both Verizon and Vodafone has stoked investors' appetites on a deal being done as soon as possible.

On Verizon's most recent earnings call, Chief Financial Officer Fran Shammo said he thought a deal could be done in a tax-efficient matter, which has been one of the sticking points of a potential deal.

Equinix (AAPL) shares tumbled 3.44% in premarket trading to $208.94 after the data center company reported first-quarter earnings that missed estimates and guided revenue below expectations.

For the first quarter, Equinix reported earnings of 71 cents a share on $519.5 million in revenue. Analysts were expecting earnings of 78 cents a share on $521.7 million in sales.

"Equinix delivered solid financial results in the first quarter, and we are well positioned for the remainder of 2013," said President and CEO Steve Smith in a prepared release. "We are executing with discipline and focus to capture the demand driven by strong secular trends in video, cloud, mobility and IP traffic. This quarter we saw record bookings in Cloud as service providers expand their services to meet the changing needs of enterprises who are deploying hybrid cloud architectures across Platform Equinix."

Equinix said second-quarter revenue would be between $530 million and $534 million. Analysts polled by Thomson Reuters are expecting $541.7 million in sales.

Zynga (ZNGA - Get Report) shares plunged 8.93% to $3.05 in premarket trading Thursday after the social gaming company said second-quarter earnings would be sharply lower than forecast.

The San Francisco-based Zynga expects to lose between 3 and 4 cents a share in its second quarter, with revenue ranging between $225 million and $235 million. Analysts were expecting a loss of 1 cent a share on sales of $232.05 million.

Zynga managed to beat expectations for its first quarter, posting a profit of 1 cent a share on $230 million in revenue. Analysts were expecting a loss of 3 cents a share on $210 million in sales.
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ZNGA $2.47 0.41%
EQIX $269.88 0.95%
QCOM $57.78 0.21%
VZ $44.16 -0.16%
VOD $32.32 -0.28%


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