Franklin Resources, Inc. (BEN) was performing best in early trading Friday morning, with shares up more than 4 percent. Shares of Cadence Design Systems, Inc. (CDNS) and Apple Inc. (AAPL) were also up at between 2.5 and 3 percent apiece.

However, SanDisk Corporation (SNDK) shares were down at nearly 2 percent in early trading, with Electronic Arts Inc. (ERTS) and Adobe Systems Incorporated (ADBE) shares down by nearly 1 percent.

Cisco Systems, Inc. (CSCO) made its usual showing of high volume, with nearly 27 million stocks changing hands on Friday morning. Intel Corporation (INTC) and Oracle Corporation (ORCL) were not far behind, each with more than 22 million shares being traded.

The Dow Jones Industrial Average has been trending upward, up more than 1 percent, on Friday.

In other stock news, an analyst predicts Cisco Systems Inc. will remain strong despite the expected departure of the company's longtime chief development officer, who leaves at year's end. Also, shares of Oracle Corp. have jumped more than 6 percent, after the company announced earnings jumped by more than a third in the second quarter.