Top Tech Movers (EBAY, GRMN, LOGI, PLXS, JAVA, ORCL, STX)

Posted in pre-market 
January 21st, 2010

eBay Inc. (NASDAQ: EBAY) ex-Skype figures were up 18% and the company beat estimates and raised guidance.  Frankly, after a 125% gain the guidance did not seem strong enough to justify this move, but the market is always stronger than one voice or one opinion.  Shares are up 8.8% at $24.20 on 1.47 million shares. (8:46 AM EST)

Garmin Ltd. (NASDAQ: GRMN) is getting o deal with a free navigation tool, this time from Nokia rather than from Google.  You know what  this will do to the stock on ‘free’ GPS and PND services even if Garmin is a far leader.  Shares are down 7% at $33.62 on about 30,000 shares.  8:48 AM EST)

Logitech International (NASDAQ: LOGI) profits rose over 40% on cost cuts and the sales decline slowed; guidance: $500 million and $515 million in sales, gross margin of about 34%, and operating income between $15 million and $20 million.  Shares are trading up 0.3% at $18.52 on 173,000 pre-market shares (total average volume is only 1.05 million shares).  (8:50 AM EST)

Plexus Corp. (NASDAQ: PLXS) is running higher after posting $0.44 EPS vs. $0.34 estimates and sees next quarter $0.44 o $0.52 EPS vs. $0.31 estimates from Thomson Reuters.  Shares are up 7% at $31.02, a new high above the 52-week high of $31.00.  pre-market volume is only 37,000 shares versus average volume of 226,000 shares per day. (8:52 AM EST)

Sun Microsystems Inc. (NASDAQ: JAVA) is finally going to be acquired by Oracle Corporation (NASDAQ: ORCL) after the EU figured out they could clear the takeover after a drawn out investigation brought to light that Sun just can’t make it on its own.  Oracle is up 0.15% at $25.10 but was up almost 2% in overseas trading at one point this morning.  Sun Microsystems is up 0.5% at $9.48 on the news.  (8:41 AM EST)

Seagate Technology (NASDAQ: STX) proved that the world is addicted to storage and drives after significantly beating estimates and please on guidance. This sets up a very high bar for rival Western Digital that is reporting earnings after he close. Shares are trading up almost 11% at $19.70 after a $17.76 close, making a new 52-week high above $19.04. We have also seen 624,000 shares. (8:42 AM EST)

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JON C. OGG

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