Tech
stocks continued to move higher on Thursday for the fifth consecutive session
as investors continues to cheer an unexpected fall in jobless claims last week.
The NASDAQ Composite(INDEXNASDAQ:.IXIC) rose 7.39 (0.25%) to 3,018.64,
extending its 1 week rally to over 2%.
Activision
Blizzard Inc (NASDAQ:ATVI) went up 0.90% to $11.76 after the Company increased
fiscal year 2012 guidance. The Company expects GAAP net revenues of $4.330
billion and GAAP earnings per diluted share of $0.69. The Company expects GAAP
net revenues of $740 million and GAAP earnings per diluted share of $0.06 for
the third quarter of 2012.
Cisco
Systems Inc (NASDAQ:CSCO) jumped up 3.09% to $17.69, extending its weekly rally
to about 13%. Piper Jaffray raised the rating on the stock from neutral to
overweight in a report released. The firm currently has a $22.00 target price
on the stock.
How Should Investors Make Money On CSCO’s Stock After recent
Rally? Find
Out Here
The
Company has completed the acquisition of NDS Group Ltd. NDS Group Ltd is a
provider of video software and content security solutions that enable service
providers and media companies. Under the terms of the agreement, Cisco paid
approximately $5 billion to acquire all of the business and operations of
NDS.
OSI Systems Inc (NASDAQ:OSIS) soared 4.75% to $67.46
after the Company announced fourth quarter results. Net income was $15.9
million or $0.78 per share compared to $12 million or $0.61 per share in the
prior year period. Revenues climbed to $235 million versus $183 million in the
same quarter previous year. However, analysts expected the Company to earn
$0.80 per share on revenues of $218.15 million for the quarter.
Nokia
Corporation (ADR) (NYSE:NOK) went up 4.31% to $2.79. Vringo, Inc.(NYSEAMEX:VRNG)
is buying more than 500 global patents from Nokia. The portfolio encompasses a
broad range of technologies and declared essential by Nokia to wireless
communications standards. Shares of VRNG ended lower by 3%.
Can
NOK Continues To Move Higher? Find Here
Zynga Inc
(NASDAQ:ZNGA) moved down 1.29% to $2.9. The Company’s chief operating officer
John Schappert has resigned from his position.
Universal Studios Home Entertainment and Zynga
announced a first time partnership to commemorate the highly anticipated debut
of Dr. Seuss ‘the Lorax on Blu-ray(TM) & DVD on August 7, 2012.
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