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TheStreet Open House

Symantec, Facebook, Riverbed: Tech Premarket

NEW YORK ( TheStreet) -- Symantec (SYMC) was a big winner in pre-market trading, lifted by the software maker's better-than-expected first-quarter results.

The Mountain View, Calif.-based firm reported revenue of $1.71 billion, a year-over-year increase of 3% in constant currency. Analysts surveyed by Thomson Reuters were looking for sales of $1.64 billion.

Excluding items, Symantec earned 44 cents a share, up 7% on the prior year's quarter, well above analysts' estimate of 36 cents a share.

Symantec, which is still in the throes of a major restructuring effort, noted particular strength in its endpoint security and backup businesses.

The company's shares climbed 4.8% to $25.52 before market open.

Comcast (CMCSA) shares rose 3.91% to $44.38, boosted by the media giant's second-quarter results. Early on Wednesday, Comcast reported revenue of $16.3 billion, a 7% increase on the prior year's quarter, and above Wall Street's forecast of $16.01 billion.

Comcast earned 65 cents a share, up from 50 cents a share in the same period last year. Analysts were looking for earnings of 63 cents a share.

Facebook (FB) was another winner, rising 0.78% to $37.92 after closing Tuesday within pennies of its May 2012 $38 IPO price.

Shares of the social network, which has been attracting plenty of positive sentiment recently, gained 6.2% on Tuesday to close at $37.61. Facebook was also the most active pre-market Nasdaq stock on share volume of 1,429,652.

Micron Technology (MU) was another Nasdaq gainer, rising 0.32% to $12.64 on share volume of 100,470.

Riverbed (RVBD) shares, however, plunged 15.46% to $14.82 after the networking specialist missed Wall Street's revenue estimate in its second-quarter results late on Tuesday.

-- Written by James Rogers in New York.

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

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