Tech Five: King shares slide
Shares of the creators of Candy Crush Saga are sliding in early trading. Let's take a look at the tech stocks to watch Friday:
King. A weak outlook for the second quarter sent King shares down more than 7% in pre-market trading. King cites the impact of foreign currency and their game release schedule. "We expect the mid-year period to be seasonally softer, returning to growth trends in the latter part of the year," said King in a statement. For its first quarter, King reported earnings per share of 51 cents off $569 million in revenue.
Netflix. Shares of the streaming media giant jumped 3% off reports the company is planning to take its service to China. According to The Wall Street Journal, Netflix is talking with Chinese broadcast companies to deliver content.
Google. The company announced a new wave of self-driving prototype cars will appear on public roads starting this summer. The cars will have maximum speeds of 25 miles per hour and safety drivers to take control if needed.
eBay. Mobile payments service PayPal will trade on the Nasdaq under the ticker symbol PYPL when eBay spins it off later this year. It's the same symbol used by PayPal before eBay acquired the company in 2002.
Apple. The first smart-home devices that will support the tech giant's HomeKit platform will debut this June, reports The Wall Street Journal. HomeKit was unveiled during last year's Worldwide Developers Conference in San Francisco.
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