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FireEye Plunges, Yahoo! Dips, Twitter Drops: Tech Premarket

NEW YORK (TheStreet) - Shares of security specialist FireEye (FEYE - Get Report), which reported its first-quarter results on Tuesday, plunged 13.95% to $31.95 as investors responded to the company's weaker-than-expected guidance.

In a note released on Wednesday, FBR Capital Markets lowered its FireEye price target to $70 from $105, citing "multiple compression in light of recent market volatility". FBR, however, maintained its 'outperform' rating on the stock.

FireEye was also one of the most active pre-market Nasdaq stocks on share volume of 305,662.

Yahoo! (YHOO - Get Report) shares dipped 0.08% to $36.46 in pre-market trading. The Internet giant holds a 24% stake in Chinese online retailer Alibaba, which filed its prospectus for an eagerly-anticipated IPO with a $1 billion placeholder on Tuesday.

Sunnyvale, Calif.-based Yahoo! was also one of the most active pre-market Nasdaq stocks on share volume of 643,002.

Facebook (FB) was another active pre-market stock, gaining 0.89% to $59.05 on share volume of 423,448.

Twitter (TWTR - Get Report) shares dipped 1.1% to $31.50 before market open on Wednesday, just a day after the stock hit an all-time low.

Shares of the micro-blogging site reached $31.72 on Tuesday on the expiration of a six-month lockup period for company insiders and early investors.

Apple (AAPL - Get Report) shares gained 0.49% to $597.35. The company is reportedly planning a major iPhone promotion at its U.S. Retail Stores this week, said to be the brainchild of its new retail chief Angela Ahrendts.

In an SEC filing earlier this week Apple revealed that Ahrendts had received a stock grant of 113,334 shares, with a value of around $68 million.

Shares of Cognizant (CTSH - Get Report), which reported its first-quarter results before market open, fell 4.47% to $47.

>>Read More: How Apple Is Going to Give the iPhone a Boost

>>Read More: Apple Hit $600, Now Raise the Target

--Written by James Rogers in New York.

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AAPL $124.75 -1.13%
CTSH $60.70 -2.80%
FEYE $40.84 -2.79%
TWTR $50.66 -2.63%
YHOO $44.45 -2.91%


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