Cisco, Sirius, Zynga, Nvidia: Tech Premarket
NEW YORK (TheStreet) -- Cisco(CSCO) was one of the big gainers in premarket trading on Thursday, boosted by positive analyst sentiment.
Goldman Sachs helped lift Cisco's shares by adding the company to its conviction buy list. "We see a positive inflection in fundamentals with our recent IT Survey and Channel survey pointing to stronger enterprise networking and North America capex poised for an above-seasonal second half," explained Goldman analyst Simona Jankowski.
Piper Jaffray also upgraded the networking giant, which helped push Cisco's shares up 3.85% to $17.82 before market open.
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Cisco, which reports its fourth-quarter results next week, was also one of the most active premarket Nasdaq stock on share volume of 407,341.
Sirius XM(SIRI) was another active stock on share volume of 341,463. The social networker's shares rose 0.4% to $2.48 before market open.
Shares of social gamer Zynga(ZNGA) were off 1.97% at $2.89, following the resignation of the company's Chief Operating Officer John Schappert.
Nvidia(NVDA) , which reports its second-quarter results after market close, crept up 0.49% to $14.30. Analysts surveyed by Thomson Reuters expect the chipmaker to report revenue of $1.01 billion and earnings of 14 cents a share.
--Written by James Rogers in New York.
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