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

HP, Microsoft, Yahoo!: Tech Premarket

NEW YORK ( TheStreet) -- HP (HPQ) shares tanked 8.04% to $23.34 in premarket trading as investors digested the tech giant's third-quarter results, released after market close on Wednesday.

The Palo Alto, Calif.-based company reported revenue of $27.2 billion, down from $29.7 billion in the prior year's quarter. Analysts surveyed by Thomson Reuters were looking for sales of $27.29 billion.

Excluding items, HP earned 86 cents a share, down from $1 a share in the same period last year, and in line with analysts' expectations.

HP's numbers, however, felt the effects of a tough PC environment. The company's Personal Systems revenue was down 11% year over year, while Printing revenue fell 4% over the same period. Revenue from the firm's Enterprise Group tumbled 9%.

Microsoft (MSFT - Get Report) gained 1.52% to reach $32.09 before market open. Early on Thursday, Nomura Equity Research upgraded Microsoft to "buy," citing the potential for shareholder activism at the software giant.

"Frustrated Shareholders could support change at Microsoft," wrote Nomura analyst Rick Sherlund, in a note. "Fundamentals are still on a slippery slope as tablets erode PC's, but stable enterprise business and strong cash flows could support a potential activist agenda for large share repurchase, substantially greater dividend and management succession plan."

Sherlund noted that ValueAct owns less than a 1% position in the company, but "is likely to have support of shareholders weighing in on their side as they press for a Board seat and attempt to drive greater shareholder value."

Microsoft was also one of the most active premarket Nasdaq stocks on share volume of 91,843.

Yahoo! (YHOO - Get Report) was another winner, rising 1.81% to $27.55 on share volume of 44,302, while SiriusXM (SIRI) gained 0.82% to $3.69.

Electric car maker Tesla (TSLA) was a more modest gainer, rising 0.34% to $148.37, while Apple (AAPL - Get Report) was up 0.25% to $503.62.

Facebook (FB) shares were unchanged at $38.32, although the social networker was one of the most active Nasdaq stocks at 94,118.

--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 $94.98 1.40%
HP $61.30 -2.80%
MSFT $49.94 -1.30%
YHOO $36.07 -1.30%
FB $117.91 -0.56%


Chart of I:DJI
DOW 17,733.58 -157.58 -0.88%
S&P 500 2,059.67 -21.76 -1.05%
NASDAQ 4,762.1030 -55.4910 -1.15%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs