NEW YORK (TheStreet) -- Apple(AAPL) shares rose 1.3% to $378.80 in pre-market trading on Tuesday, as the company prepares to issue its third quarter earnings after the ball. Analysts are expecting a good quarter from the consumer tech giant, which is expected to post earnings of $5.83 a share, up from $3.51 during the same period last year.
Cisco(CSCO) shares rose 0.4% in pre-market trading on Tuesday after the network equipment maker said it was cutting 11,500 employees, or 16% of its workforce through job cuts, buyouts and outsourcing.
The cuts are part of a $1 billion cost reduction effort to help Cisco realign its business, deal with a drop in tech spending and face market share losses that have battered the company's stock this past year.
IBM(IBM) shares popped 2% in pre-market trading on Tuesday after the software giant posting strong quarterly earnings.
Big Blue brought in revenue of $26.7 billion, compared to $23.7 billion in the same period last year; the numbers were above analysts' estimate of $25.35 billion. Excluding items, IBM earned $3.09 cents a share, up from $2.62 cents a share in the prior year's quarter and up from analysts' forecast of $3.03 a share.
Shares of Baidu(BIDU) jumped 1.4% to $150.25 in pre-market trading on Tuesday after the Chinese search engine reached a deal with major record labels to provide licensed music for users to stream or download for free.
The deal ends years of legal struggles between music labels like Sony(SNE), Universal Music Group and Warner Music Group and Baidu over the use of the search engine's MP3 service which has been accused of promoting piracy.
Online privacy start-up Reputation.com raised $41 million in venture funding, the company said on Monday. The round brings the company's total funding to more than $65 million. Reputation.com helps consumers manage their privacy and reputation online.
--Written by Olivia Oran in New York.
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