Mellanox, Allot, Facebook, Apple: Tech Premarket
NEW YORK (TheStreet) -- Mellanox(MLNX) was a big loser in premarket trading on Thursday after the server and storage specialist lowered its fourth-quarter outlook.
In a statement released after market close Wednesday, Mellanox said that it expects fourth-quarter revenue between $119 million and $121 million, below its previous guidance of $145 million to $150 million.
Investors responded negatively to the reduced outlook, pushing the company's shares down 18.78% to $49.70 in premarket trading. Mellanox's stock closed up 3.05% during the first day of 2013 trading on Wednesday.
"The shortfall is primarily the result of a weaker demand environment, challenging macroeconomic conditions, and a technical issue associated with FDR 56Gb/s InfiniBand cabling which caused approximately $20 million of FDR deployments to be delayed," explained Mellanox, in a statement.
Mellanox added that the cabling issue has been resolved and is not expected to impact revenue in the future.
The company expects annual revenue of $500 million, up from $259 million in 2011.
Allot Communications(ALLT) was another laggard, tumbling 6.51% to $17.09 on Thursday. The networking specialist's shares ended Wednesday's session up 2.58%.
Apple(AAPL) shares slipped 0.56% to $545.97 in premarket trading, after closing up 3.17% on Wednesday.
HP(HPQ) shares were off 0.87% at $14.89 on Thursday, despite rising 5.4% during Wednesday trading.
Microsoft(MSFT) shares, which gained 3.41% on Wednesday, were off 0.25% at $27.55 in premarket trading.
Shares of networking giant Cisco(CSCO) , however, gained 0.49% to reach $20.44 before market open, after gaining 3.51% on Wednesday.
Online travel specialist Priceline(PCLN) rose 1.74% to $649.50 before market open.
--Written by James Rogers in New York.
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