NEW YORK (TheStreet) - Sirius XM (SIRI) was a big gainer in premarket trading on Monday, rising 7.84% to $3.85. The New York-based company was also the most active Nasdaq stock before market open on share volume of 57,835,230.
Twitter (TWTR), however, was a big loser, tumbling 5.59% to $65.11 in premarket NYSE trading. The micro-blogging site, which has seen its shares rise more than 50% over the past month, has been downgraded to underweight from equal weight by Morgan Stanley.
"TWTR stock is trading above our $61 bull case and appears to price in an approximate tripling of Twitter's share of the socially enabled ad market within 3 years," wrote Morgan Stanley analyst Scott Devitt, in a note released on Monday. "In our view, success is far from guaranteed at this early stage."Facebook (FB) shares were off 0.89 % to $54.07, although the social network was one of the most active Nasdaq stocks on share volume of 1,273,635. Apple (AAPL) shares were dipping 0.68% to $537.30 on share volume of 170,415. Social gamer, Zynga (ZNGA), however, was a gainer, rising 2.02% to $4.05 on share volume of 115,545. --Written by James Rogers in New York. Follow @jamesjrogers >Contact by Email.
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