Tech Premarket: Sirius XM, Twitter, Facebook

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.

Media conglomerate Liberty Media  (LMCA) on Friday said that it will seek to make the Internet radio specialist a wholly owned subsidiary. Liberty Media shares were up 1% to $146.78 before the bell.

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.

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