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Verizon Rising: Morning Tech Bytes

News of Verizon shares going up on third quarter earnings led Monday morning's tech news.
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NEW YORK (TheStreet) -- Shares of Verizon Wireless (VZ) - Get Verizon Communications Inc. Report rose slightly in premarket trading Monday morning due to its report of solid quarterly earnings last week, while CommScope (CTV) - Get Qwest Corp 6 7/8 % Notes 2014-1.10.54 Sr Report was up big on buyout news.

Verizon beat third quarter earnings estimates Friday morning, as adjusted profit of 56 cents a share was above analysts' estimates of 54 cents a share. Third-quarter revenue decreased 2.9% from last year to $26.5 billion, but still beat analysts' expectations of $26.3 billion.

Subscriber growth slowed

, however, with the company adding only 997,000 new customers, compared with 1.2 million customers a year before.

Verizon stock was up 0.37% to $32.25 in premarket trading Monday morning.

CommScope, the communications cable maker, said Monday it is in talks with private equity firm Carlyle Group about a buyout. Under the terms of the agreement, Carlyle would acquire all outstanding shares of CommScope for $31.50 per share.

CommScope rose 33.22% in premarket trading to $30.80.

Riverbed Technology posted strong quarterly earnings, with revenue increasing 45% over the same period last year to $147.8 million. On Friday, three analysts upgraded the stock.

Riverbed was up 0.98% to $54.80 in premarket trading.


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released on Friday a tablet intended to rival the iPad which runs on Windows 7 technology.

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HP was up 0.30% to $43.00 in premarket trading.

Venture capital investment in the third quarter of 2010 was down 5% over the same period last year while the number of deals rose 2%, according to numbers released by Dow Jones VentureSource on Monday. Venture investors put $5.5 billion into 662 deals for U.S. based companies, with an increase in investment among the business and financial services and information technology sectors.

--Written by Olivia Oran in New York.

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