Leading technology stocks were mostly retreating pre-market Friday.
Stocks moving on news include:
(-) HP (HPQ), which was slumping more than 9% after the computer manufacturer said Enrique Lores has been selected to succeed Dion Weisler as president and CEO on Nov. 1, while upstaging better-than-expected fiscal Q3 earnings. HP reported fiscal Q3 financial results, earning $0.58 per share during the three months ended July 31, excluding one-time items, on $14.6 billion in revenue.
(+) Salesforce (CRM) was gaining more than 6% in value after it ramped up its full-year guidance as the provider of cloud-based customer relationship management software posted better-than-expected results for its second quarter. The company booked revenue of $4.00 billion in the three months ended July 31, up from $3.28 billion in the corresponding quarter of the prior year. This was also ahead of the consensus estimate of analysts polled by Capital IQ for $3.96 billion. It sees full-year revenue up 26% to 27% year over year.
(-) VMware (VMW) was down 6% after it reported second-quarter results that beat the market's expectations and also announced bids to acquire Pivotal Software (PVTL) and Carbon Black (CBLK) for a total enterprise value of almost $4.8 billion.
Price: 17.23, Change: -1.70, Percent Change: -8.98
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