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) 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.
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.
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--Written by James Rogers in New York.
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