The technology sector showed a strong performance yesterday, led by gains from Cisco Systems, Inc. (NASDAQ:CSCO), but shares of Facebook Inc (NASDAQ:FB) tumbled after the expiration of its post-IPO lockup period.
Cisco shares climbed +9.63%, marking the highest intraday advance since August 2011, and closed at $19.02. Its overall traded volume was 152.14 million shares. CSCO has earnings per share of $1.49 with the net profit margin of 16.14% and operating margin of 20.06%. The momentum for the rally was the company posting a 56% growth in its fiscal fourth-quarter earnings, and saying it would increase its quarterly dividend payment by 75%, to 14 cents a share.
Facebook Inc (NASDAQ:FB) was not in a position to show signs of joining in the day’s gains. The company took a hit as the lockup period for insiders to sell their stakes in the company expired, and about 271 million shares of Facebook’s stock hit the market.
The stock fell -6.27% to close at $19.87, the first time the social-networker’s stock closed lower than $20 since its mid-May IPO, and its overall volume during last trading session was 157.34 million shares. FB has earnings per share of $0.18 with the net profit margin of 13.29% and operating margin of 13.84%.
Sprint Nextel Corporation (NYSE:S), which has recently been raised from sell to hold rating by TheStreet Ratings, moved down -4.45% and closed at $5.15 with the total traded volume of 107.76 million shares, more than the average volume of 72.66 million during last trading session.
Media giant Sirius XM Radio Inc (NASDAQ:SIRI) moved up +1.57% and closed at $2.59 with the total traded volume of 85.83 million shares, more than the average volume of 64.41 million during last trading session.