Here are some things going on this morning in your world of tech:
Shares of server storage acceleration technology maker Fusion IO (FIO) are jumping in pre-market trading, up $1.28, or 7.3%, at 18.89, after the company this morning said it will work with Cisco Systems (CSCO) to build its circuit boards with flash storage into Cisco’s “unified compute system,” or UCS, servers.
Shares of Apple (AAPL) are up $2.46, or 0.4%, at 573.63 in early trading after the company’s Worldwide Developer Conference in San Francisco kicked off yesterday morning with a keynote presentation by CEO Tim Cook, in which the company showed off new laptops and for coming enhancements to its operating system software.
Mike Walkley of Canaccord Genuity raised his price target on Apple shares to $800 from $775, writing “We were impressed with the refreshed MacBook Pro and Air products, and we believe the next-generation MacBook Pro with retina display will bolster overall Mac sales. We were also impressed with the features introduced with iOS6, as Apple continues to expand its iOS ecosystem leadership versus competitors.”
Charlie Wolf of Needham & Co. writes that “the one ‘disappointment’ in the keynote is that, contrary to the predictions of many pundits; Apple did not specifically focus on the company�s rumored Apple TV service.”
Shares of Nvidia (NVDA), whose “Kepler” graphics processing unit (GPU) technology is being used in the new laptops that Apple introduced yesterday, is rising 15 cents, or 1.2%, this morning.
Shares of chip maker Texas Instruments (TXN) are higher by 60 cents, or 2%, at 28.25, after the company last night said during its scheduled quarterly update that Q2 results are tracking in line with analysts’ estimates.
TI stock gets at least one upgrade this morning, from National Securities’s Ramesh Misra, who raises his rating to Buy from Neutral, with a $33 price target. Misra argues the recent pullback in shares fully discounts the risk of European economic malaise, and that new computing products and improvement in China’s economic outlook could drive tightness in chip supplies later this year, for which he thinks “TI has built up a considerable amount of low-cost production capacity, positioning the company especially well for such a scenario.”
Shares of Facebook (FB) are up 27 cents, or 1%, at $27.27 in early trading despite a negative report this morning from Cowen & Co.’s Doug Creutz, who writes that declining activity on Facebook games provider Zynga (ZNGA) are a negative leading indicator suggesting Facebook may have peaked. Zynga stock is up 8 cents, or 1.4%, at 12.58.
Shares of Juniper Networks (JNPR) are up 30 cents, or 1.8%, at 16.70 in early trading after the company last night said its board authorized a $1 billion share repurchase program. The company hosts its annual analyst day event today.
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