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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Tech Premarket: Micron, Cisco, Facebook

NEW YORK (TheStreet) -- Micron Technology (MU) was a big loser before market open, tumbling 2.9% to $22.47 as investors continued to digest the company's deal with Rambus (RMBS).

On Tuesday, the two companies ended their 13-year dispute. As part of the settlement, semiconductor specialist Micron has agreed to pay Rambus $280 million over seven years as a license to use its patents. Micron is also the most active pre-market Nasdaq stocks on share volume of 885,632.

Shares of Cisco (CSCO) fell 0.9% to $21.02 before market open as Citi initiated coverage of the tech giant with a sell rating and an $18 price target. "We forecast revenue grows at a slower 3-5% pace over the next 3 years than both Cisco's existing 5-7% long-term growth target and the Street at 6%, from share loss in Cisco's core routing and switching markets," wrote Citi analyst Ehud Gelblum, in a note released on Wednesday. "We expect this slowing revenue growth and uncertainty around Cisco's position in the data center to result in multiple compression despite an attractive 4% dividend and 9% free cash flow."

Cisco missed Wall Street's revenue forecast when it reported its first-quarter results last month, weighed down by weak tech spending. The switchmaker also pointed to the fallout from the controversy over National Security Agency spying, which damaged its business in China.

The San Jose, Calif.-based firm hosts its financial analyst meeting in New York on Thursday.

Facebook (FB) was a winner before market open on Wednesday, rising 0.57% to $50.53. The social network was also one of the most active pre-market Nasdaq stocks on share volume of 344,161.

Groupon (GRPN) shares climbed 3.39% to $10.38 on share volume of 220,705, while Yahoo! (YHOO) was down 0.7% to $39.94 on volume of 188,029 shares. BlackBerry (BBRY)was off 2.51% at $5.82 on 157,052 shares.

--Written by James Rogers in New York.

>Contact by Email.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,982.59 +22.02 0.13%
S&P 500 1,978.91 +0.57 0.03%
NASDAQ 4,444.9090 -4.6550 -0.10%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs