Tech Five: Cisco, Salesforce shares surge

A pair of tech companies are on the move following quarterly results, while Fitbit could make a move into mobile payments.

Let's look at tech stocks to watch Thursday:

Cisco. Shares of the networking giant are up more than 5% in early trading after beating Wall Street estimates for the third quarter. Cisco reported earnings of 57 cents a share off revenue of $12 billion. Analysts polled by S&P Global Market Intelligence projected earnings of 55 cents.

Salesforce.com. Shares of the could computing company are trading higher after reporting a 28% jump in revenue for the first quarter compared to last year. The company also raised its revenue guidance for the 2017 fiscal year.

Fitbit. The fitness band maker announced it is acquiring the wearable payment assets from tech company Coin. The move will likely open the door for Fitbit users to make purchases using their wearable device.

Netflix. The streaming giant introduced a new service called fast.com for users to test their Internet speeds. The service will use Netflix services to determine how fast your connection is when attempting to stream TV shows or movies.

Alphabet. It was a busy day for Google, which introduced several new products including an Amazon Echo competitor called Google Home and a new messaging app called Allo.

Follow Brett Molina on Twitter: @brettmolina23.