Facebook, Amazon, Apple: Tech Premarket
Facebook met analysts' top- and bottom-line estimates, although decelerating revenue growth and lack of guidance weighed heavily on the stock before market open. Shares of the Menlo Park, Calif.-based firm plunged 13.24% to $23.29 as investors digested the second-quarter numbers.
Despite rumors that he would be a no-show, Facebook CEO Mark Zuckerberg was present throughout the company's conference call. Facebook's top priority, he explained, is a sustained focus on mobile, platform and social ads. "We have a lot of interesting things going on here," he said.
Facebook was also the most active premarket Nasdaqstocks on share volume of 3,036,856.
AuthenTec(AUTH) was a major gainer, climbing 60.75% to $8.15 after the company confirmed a merger with Apple(AAPL) . The iPhone maker is acquiring the fingerprint sensor specialist for $8 a share, according to documents filed with the Securities and Exchange Commission. Reuters reported the deal values AuthenTec at about $356 million.
Apple(AAPL) shares dipped 0.05% to $574.6 on Friday.
--Written by James Rogers in New York.