Friday, August 10, 2012

Tech Stocks Ended Higher, Cisco Systems Outperformed (ATVI, Cisco Systems, OSIS, NOK, ZNGA)

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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