Stocks to Watch: Research In Motion, Dunkin' Brands (Update 1)
NEW YORK --
Research In Motion (RIMM), the troubled BlackBerry maker, missed fourth-quarter analysts' expectations, said it would no longer provide quarterly forecasts, and announced former co-CEO Jim Balsillie is resigning from the board.
RIM posted fiscal fourth-quarter non-GAAP earnings of 80 cents a share on revenue of $4.2 billion. Analysts were expecting profit of 81 cents a share on revenue of $4.5 billion.
CEO Thorsten Heins on Thursday stressed RIM needs "substantial change" and said that "no stone will be left unturned." A sale of the company isn't out of the question but he said it's not the primary focus right now.Shares were down 1.2% in premarket trading on Friday.
Dunkin' Brands (DNKN), the owner of Dukin' Donuts and Baskin-Robbins, announced a public offering of 26.4 million common shares at $29.50 a share. Shares were down 0.7% to $29.85 in premarket trading.
A labor advocacy group released the findings of an audit of working conditions at Foxconn, a major Apple (AAPL - Get Report) supplier in China. Apple CEO Tim Cook visited a Foxconn facility in China on Thursday, and Foxconn reportedly has promised to make improvements, but it's not clear how this may or may not impact the company's relationship with Apple, which is part of the Fair Labor Association that conducted the audit. 10 Consumer Stocks for the Stay-at-Home Investor
Best Buy (BBY - Get Report) shares fell 7% to $24.77 on Thursday after the electronics retailer posted a quarterly loss and said a cost-cutting program would include the shuttering of 50 big-box stores in the U.S. 10 Dow Dogs That Are Barking for Gains
Cache (CACH - Get Report), the women's apparel retailer, missed fourth-quarter profit estimates and disappointed in its earnings projections. The retailer reported net income of $1.9 million, or 15 cents a share; analysts were looking for 18 cents a share. For the first quarter, the company said it expects to report a loss of 9 cents a share. The consensus forecast is for a loss of 1 cent.
AstraZeneca (AZN - Get Report) was up 0.6% in premarket trading after winning a U.S. patent lawsuit. The U.S. district court said that the company's Seroquel product is patent protected. Seroquel is AstraZeneca's second largest product, used for patients suffering schizophrenia, depression and bipolar disorder.
Williams Cos. (WMB) said a public offering of 26 million shares was priced at at $30.59 a share. The offering is expected to close on April 4. Shares were up 2.1% to $31.24. -- Written by Joseph Woelfel and Chao Deng >To contact the writer of this article, click here: Andrea Tse
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