Tech Stocks (Apple Inc, CSCO, NFLX, SIRI, Sprint Nextel Corporation)


Apple Inc (NASDAQ:AAPL) surged up 1.92% to $419.51 on a thickly traded volume of 5.64 million shares. According to report from Reuters, Samsung Electronics Co Ltd has accused Apple Inc of infringing its wireless patents related to the U.S. firm’s iPhone and iPad products. This counter claim has been filed in an Australian court.

Cisco Systems Inc (NASDAQ:CSCO) dropped 0.42% to $16.44. Stifel Nicolaus restated a buy rating on the stock and increased its price target to $20 from $17.

Netflix Inc (NASDAQ:NFLX) declined 6.78% to $133.79. Chief Executive Reed Hastings said in a company blog post that Netflix is separating its movie streaming business and its DVD by mail service, which will be called Qwikster.

Sirius XM Radio Inc (NASDAQ:SIRI) is up 0.77% to $1.81 on a traded volume of 5.64 million shares after the Company provided the guidance for 2012. The Company expects revenue growth of 10% to $3.3 billion and adjusted EBITDA to increase by 20% to approximately $860 million.

Sprint Nextel Corporation (NYSE:S) escalated 1.49% to $3.40. Bernstein upgraded the rating on the stock from underperforms to market perform and the price target is set at $3.00.

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