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Computer industry

Technology Stocks Surge in Pre-Market Trading

Strategic Insights

— 1 min read

Pre-market trading saw a surge in technology stocks on September 28, 2011, with major players like Microsoft (MSFT), Apple (AAPL), IBM (IBM), Cisco Systems (CSCO), and Google (GOOG) rising by 0.23% to 0.68%. However, Apple's shares were down 0.04% due to reports that the company may axe its iPod Classic and Shuffle products this year. Meanwhile, Radioshack (RSH) and Virgin Media (VMED) saw significant gains after Goldman Sachs and Nomura upgraded their ratings on these stocks.

Key Takeaways:

  • Technology stocks led the pre-market trading gains on September 28, 2011, with major players like MSFT, IBM, CSCO, and GOOG rising by 0.23% to 0.68%.
  • Apple's shares were down 0.04% despite the overall market trend, due to reports of the company potentially discontinuing its iPod Classic and Shuffle products.
  • Radioshack's stock surged 2.22% to $12.91 after Goldman Sachs reiterated its Conviction Buy rating on the stock.
  • Virgin Media's stock gained 0.28% to trade at $25.11 after reports that the company is entering the cloud computing space and received a Buy rating from Nomura.
  • The market data provider, Comtex News Network, Inc., reported a historical uptrend in Apple's stock on August 29, 2011, and a downtrend in Radioshack's stock on August 18, 2011.

Statistics:

  • MSFT was up 0.23% in pre-market trading.
  • AAPL was down 0.04% in pre-market trading.
  • IBM was up 0.28% in pre-market trading.
  • CSCO was up 0.68% in pre-market trading.
  • GOOG was up 0.15% in pre-market trading.
  • RSH was up 2.22% in pre-market trading.
  • VMED was up 0.28% in pre-market trading.
  • Radioshack's price target is $17, set by Goldman Sachs.
  • Virgin Media's stock was upgraded to Buy from Neutral by Nomura.

Sources:

  • MidnightTrader via COMTEX.
  • tuaw.com.
  • Goldman Sachs.
  • Nomura.
  • Comtex SmarTrend Alert.
  • Comtex News Network, Inc.

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