Research In Motion (RIMM) late Tuesday forecast an operating loss for its fiscal first quarter. The BlackBerry maker said its "financial performance will continue to be challenging for the next few quarters." RIM also said it has hired bankers to help with its review of its strategic options and that it planned to make "significant" reductions in its work force. The stock closed Tuesday at $11.23, up 2.1%, but fell as much as 15% in after-hours trading.
Facebook (FB - Get Report), the social networking giant, lost nearly 10% of its market capitalization on Tuesday with the stock becoming a favorite of short sellers. Facebook closed Tuesday at $28.84. It's IPO price of less than two weeks ago was $38. Separately, a Reuters report said Facebook has received notice that U.S. antitrust regulators will give its proposed acquisition of Instagram a lengthy investigation.
Pep Boys (PBY), the automotive parts and service chain, said its sale to private-equity firm Gores Group has been canceled. Pep Boys will receive termination fees of $50 million.
Mitt Romney said his victory in the Texas primary on Tuesday gives him enough delegates to win the Republican presidential nomination. Romney needed 1,144 delegates to clinch the nomination. According to The Associated Press, the win Tuesday puts Romney over that number.
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