This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

RIM Plunges; Microsoft Beats

NEW YORK ( TheStreet) -- Research In Motion (RIMM) shares plummeted 13.4% to $49 in pre-market trading Friday after slashing its first-quarter profit outlook because of weak Blackberry shipments and an unfavorable product mix.

The Ontario-based company said it now sees earnings of $1.30 to $1.37 a share for three months ending in May, down from a prior projection for earnings of $1.47 to $1.55 a share.

Microsoft (MSFT - Get Report) shares dipped 1% in pre-market trading Friday despite solidly beating third-quarter earnings estimates thanks to Kinect sales and the continuing rally in corporate IT business.

Microsoft reported adjusted earnings per share of 61 cents on quarterly revenues of $16.43 billion. That's up from 45 cents and sales of $14.5 billion in the year-ago quarter; analysts surveyed by Thomson Reuters expected 56 cents EPS on sales of $16.2 billion.

PayPal, the online payments unit of eBay (EBAY - Get Report), has acquired a mobile payments start-up that lets customers pay for goods with smartphones, the company announced Friday on its blog. Called FigCard, the Boston based start-up lets merchants accept mobile payments through a USB device that connects to the cash register.

Shares of eBay fell 0.9% in pre-market trading Friday to $33.68.

Panasonic (PC) said Thursday it plans to cut 17,000 jobs over the next two years as it reorganizes the company following its acquisition of Sanyo Electric Co. Panasonic will reduce its workforce by around 4.6% to 350,000 by March 13, it said in a statement.

Vancouver-based start-up 99Designs has raised $35 million in venture funding led by Accel Partners, the company said Thursday. 99Designs is an online marketplace for graphic designs.

--Written by Olivia Oran in New York.

>To follow the writer on Twitter, go to http://twitter.com/Ozoran.

>To submit a news tip, send an email to: tips@thestreet.com.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
EBAY $27.11 -0.51%
MSFT $43.52 -0.93%
AAPL $112.76 -0.47%
FB $89.43 -1.74%
GOOG $618.25 -1.92%

Markets

Chart of I:DJI
DOW 16,528.03 -114.98 -0.69%
S&P 500 1,972.18 -16.69 -0.84%
NASDAQ 4,776.5080 -51.8170 -1.07%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs