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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Sourcefire, Inc. (MM) | NASDAQ:FIRE | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 75.96 | 0 | 01:00:00 |
By Rex Crum, MarketWatch
SAN FRANCISCO (MarketWatch) -- Tech stocks put in a mixed performance Tuesday as investors reacted to Netflix Inc.'s quarterly results and Cisco Systems Inc.'s deal to buy network-security software company Sourcefire Inc. for $2.7 billion.
Anticipation also began to rise for Apple Inc.'s (AAPL) earnings report, due after the market close.
Netflix (NFLX) was down by 1.5%, at $257.93, after new-subscriber numbers during its second quarter failed to meet expectations. Netflix said it added 630,000 new subscribers in the U.S. during the quarter, but Wall Street analysts had expected as many as 800,000 new additions due to the launch of programming such as a new season of "Arrested Development."
The new-subscriber numbers took some of the shine off the rest of Netflix's results, as the company reported earnings that more than quadrupled from the year-ago period.
Cisco (CSCO) shares slipped 11 cents to $25.62 after the company said it would acquire Sourcefire(FIRE) for $76 a share. Sourcefire shares rose 28%, to $75.64, after the deal was announced.
Apple (AAPL) was off by $2.50 a share, at $423.64, ahead of the company's fiscal third-quarter results, set for after the close of trading. Analysts are forecasting Apple's sales to be relatively flat compared with the year-ago quarter due to more competition in the smartphone market.
Printing-technology company Lexmark International Inc. (LXK) shares jumped almost 10% to $37.91. Before the market opened, Lexmark reported second-quarter earnings and sales that surpassed both the company's and Wall Street analysts' consensus estimates.
Texas Instruments Inc. (TXN) was also having a good day, and was up by 5% at $39.29 a share. On Tuesday, the chipmaker reported a gain in second-quarter earnings and forecast better-than-expected results for its third quarter. TI attributed its performance to strength in areas such as the industrial and automotive markets.
Yahoo Inc. (YHOO) slipped by almost 1% to $27.64. Needham & Co. analyst Laura Martin cut her rating on Yahoo to hold from buy, citing "higher risks" in the wake of Third Point selling back nearly all of its Yahoo shares and its three directors leaving the Yahoo board.
The Nasdaq Composite Index (RIXF) fell 7 points to 3,593. The Philadelphia Semiconductor Index (SOX) and the Morgan Stanley High Tech 35 Index (MSH) both edged into positive territory.
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