Ericsson, Riverbed, Netflix: Pre-Market Movers
NEW YORK (TheStreet) -- Ericsson
ST-Ericsson, the chip joint venture of Ericsson and STMicroelectronics
Citing an ST-Ericsson spokeswoman, Reuters reports that the announcement was pushed back from "before market open" to the afternoon, European time, for a "technical reason."
The announcement is expected to detail site closures and jobs cuts, and could include seeking a partner for application processors, according to Reuters.
Ericsson was one of the most active Nasdaq stocks before market open with volume reaching 260,500.
The networking specialist fell short of Wall Street's revenue forecast in its first-quarter results, released late on Thursday. Riverbed shares slipped 2.07% to $19.44 before market open on Monday.
TheStreet Ratings downgraded Riverbed from 'buy' to 'hold' on Monday, citing the stock's generally disappointing performance, unimpressive growth in net income and "premium valuation."
Video company Netflix
--Written by James Rogers in New York.
>To follow the writer on Twitter, go to http://twitter.com/jamesjrogers.
>To submit a news tip, send an email to: firstname.lastname@example.org.