Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
🚀 AI-picked stocks soar in May. PRFT is +55%—in just 16 days! Don’t miss June’s top picks.Unlock full list

After Hours Fireworks In Tech Sector

ByWall Street Sector Selector
AuthorJohn Nyaradi
Published 12/21/2011, 03:28 AM
Updated 05/14/2017, 06:45 AM
SOWGn
-
BIG
-
Tuesday, December 20th after hours session lights up with fireworks in tech sector

The after hours session was dominated by big moves in the technology sector focused on Research In Motion and Oracle.

Research in Motion zoomed 7% in after hours action on word that it had rejected takeover talks from Amazon.com and others last summer.  The company has been under heavy pressure to sell itself from major shareholder Jaguar Financial Corporation which is getting impatient with slipping shareholder value.  The company has been on the rocks for months with a more than 70% decline in market value this year.

Oracle was on the other end of the pricing spectrum in the after hours with its stock dropping nearly 10% after the bell.  The company reported weak sales and revenue and an earnings miss that showed slowing sales in both its hardware and software businesses.

The tech sector seemed relatively unfazed by the news and remained mostly flat after the bell.

Disclaimer:  Wall Street Sector Selector actively trades a wide range of exchange traded funds (ETFs) and positions can change at any time.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.