By Rex Crum, MarketWatch
SAN FRANCISCO (MarketWatch) -- Netflix Inc. rose ahead of the
online video-streaming leader's second-quarter earnings report
during what has been a mixed day for tech stocks so far.
Netflix (NFLX) rose 1.6% to $449.60 a share in advance of the
company's quarterly results, due after the close of trading.
Analysts surveyed by FactSet estimate that Netflix will earn $1.14
a share on $1.34 billion in revenue. Netflix's earnings will focus
on the company's growth in streaming subscribers, and Netflix has
estimated it will add 1.46 million new subscribers during the
quarter.
Storage-technology company EMC Corp. (EMC) rose 3.7% to $27.96.
Before the market opened, Elliott Management Corp. disclosed it has
taken a $1 billion stake in EMC and will push to break up the
Hopkinton, Mass.-based company.
Digital video camera company GoPro Inc. (GPRO) rose 2.5% to
$42.45 a share. J.P. Morgan analyst Paul Coster initiated coverage
of GoPro on Monday with an overweight ratings and $51-a-share price
target. Coster said that while GoPro's stock has risen about 71%
since the company went public, GoPro has more room to rise due to
the market for first-time adopters of its cameras.
Chinese Internet search engine company Baidu Inc. (BIDU) rose
2.6% to $196.22. Morgan Stanley analyst Philip Wan raised his
rating on Baidu to buy from neutral.
Apple Inc. (AAPL) was off by 32 cents a share at $94.10 in
advance of its fiscal third-quarter results on Tuesday. Microsoft
Corp. (MSFT), which also reports its fiscal fourth-quarter results
after Tuesday's market close, shed 34 cents a share to trade at
$44.34.
The Nasdaq Composite Index (RIXF) fell 24 points to 4,407.
More must-read tech news from MarketWatch:
New subscriber numbers key in Netflix's results
Analysts taking a cautious view of GoPro
IPhones, Beats and IBM on investors' minds with Apple
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