Sector Update: Technology Shares Higher Pre-Bell; Baidu Holdings Unit to Acquire Renren for $160 Mln

By Staff,

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Top Technology Stocks:

MSFT: +0.03%

AAPL: +0.17%

IBM: +0.04%

CSCO: +0.17%

GOOG: +0.15%

Technology shares are higher in pre-bell trading. Shares in Renren ( RENN ) are up 16% pre-bell after a unit of Baidu Holdings agreed to buy a 59% stake in Renren's Nuomi Holdings unit for $160 million in cash.

The acquisition is expected to close in Q4. Baidu, a Chinese language internet search company, is up 0.11% pre-market.

And, RetailMeNot ( SALE ) shares are up 2% at $30.50 as it reports net revenues of $43.4 million and earnings loss of $0.68 per share, improved over the $0.81 per share loss a year prior. Analysts estimates were not available.

Finally, Aruba Networks ( ARUN ) reports Q4 revs of $153.1 million, versus the analyst consensus of $149 million on Capital IQ. EPS was $0.12, vs. expectations of $0.11 per share. ARUN is up 4% pre-market.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: ARUN , RENN , SALE

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