Tech Stocks: Facebook Inc (NASDAQ:FB) Turns Higher -FB, QSFT, AYI, DELL, MU
Facebook Inc (NASDAQ:FB) turned higher and was recently up 0.10% at $31.12, off session low of $30.69. This Company was one of the most strongly watched and highly anticipated companies to go public. The stock fell flat with its IPO after investors questioned its ability to rapidly grow advertising revenue and after technical glitches on the NASDAQ.
The Company announced it would report second quarter financial results after the market’s close on July 26. Average analysts are estimating the company to report 12 cents a share on revenue of $1.15 billion.
Quest Software Inc (NASDAQ:QSFT) went down 0.18% to $27.76. Dell Inc and Quest Software announced they have entered into a definitive agreement. Dell will acquire Quest for $28.00 per share in cash for each share of Quest for an aggregate deal value of approximately $2.4 billion. The transaction is expected to close in Dell’s third fiscal quarter.
Acuity Brands Inc (NYSE:AYI) jumped up 12.91% to $57.48 after the Company released third quarter results. Net sales increased 6.4% to $487.5 million. Net income for the third quarter of fiscal 2012 was $33.6 million compared to $27.1 million in the prior year period. Diluted earnings per share for the third quarter of fiscal 2012 were $0.79 compared to $0.62 reported in the prior year period. Operating profit was $57.3 million or 11.8% of net sales compared to $50.2 million or 11.0% of net sales in the prior year period.
Dell Inc (NASDAQ:DELL) went down 0.64% to $12.43 on a traded volume of 3.52 million shares. Dell Inc and Quest Software announced they have entered into a definitive agreement. Dell will acquire Quest for $28.00 per share in cash for each share of Quest for an aggregate purchase price of approximately $2.4 billion. The transaction is expected to close in Dell’s third fiscal quarter.
The Company’s new laser printers can improve productivity and offer uncompromising reliability. Dell’s new portfolio of laser printers allows customers to do more with feature-rich systems.
Micron Technology Inc (NASDAQ:MU) jumped up 4.83% to $6.61. Micron Technology Inc and Elpida Memory Inc’s trustees announced that the parties have signed a definitive sponsor agreement for Micron to acquire and support Elpida. Under the agreement, total consideration less certain reorganization proceeding expenses of JPY200 billion will be used to satisfy the reorganization claims of Elpida’s secured and unsecured creditors. Micron will acquire 100% of the equity of Elpida for JPY60 billion to be paid in cash at closing.