Yet another tech company’s stock is getting hammered because of weak forecasts.
Let’s look at tech stocks to watch:
LinkedIn: Shares of the professional social network sunk 40% in morning trading after missing estimates for its first quarter outlook. LinkedIn lost $10 billion in market value, making it the worst stock drop for the company since going public. LinkedIn projected revenue of $820 million, while Wall Street forecast $867 million. However, LinkedIn claims investor forecasts are too optimistic.
Symantec: Shares of the security software maker surged after snagging a $500 million investment from Silver Lake Partners, reports Reuters. The company is also planning a $2.3 billion share buyback.
Alphabet: Google revealed several updates to the software that runs its Android smart watches. New features include the ability to perform gestures to navigate and speaker support for voice calls.
Samsung: The electronics giant’s first Blu-ray players supporting 4K went on sale Friday. They’re priced at $399.
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