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Sector Update: Technology Shares Higher Pre-Market; Facebook up 1% on Positive Analyst Initiation

By: MT Newswires
Posted: 11/21/2013 9:06:00 AM
Referenced Stocks: DATE;FB

Top Technology Stocks:

MSFT: +0.32%

AAPL: +0.66%

IBM: +0.28%

CSCO: +0.24%

GOOG: +0.57%

Technology shares are higher in pre-bell trading, including Facebook ( FB ), which is up on an positive analyst initiation. Analysts at FBR Capital have initiated coverage of Facebook Inc. with an Outperform rating.

The firm set its price target on the stock at $60 a share. In pre-market trading, shares of FB are up 0.84% to $46.82, amid a 52-week range of $22.67 - $54.83.

And, Jiayuan.com International ( DATE ) reports net revenues for Q3 2013 were RMB128.7 million (US$21.0 million), representing a year-over-year increase of 13.4% and a sequential increase of 7.9%.

Analysts expected $21.2 million in revenues, according to Capital IQ estimates. DATE is flat in pre-market at $5.90.