NEW YORK (
(FB - Get Report)
was a loser in premarket trading on Thursday, falling 1.18% to $31.85 as investors responded to analysts'
of the company's prospects.
Wednesday was the first day that companies involved in underwriting the
largest-ever tech IPO
could issue recommendations on Facebook. Shares of the social networking phenomenon closed down 2.63% in Wednesday trading after a slew of analyst reports struck a generally cautious tone on Facebook.
Facebook shares are down more than 15% since the company's
Shares of key Facebook partner
(ZNGA - Get Report)
were also pressured in premarket trading on Thursday, down 1.07% to $5.57.
Investors were underwhelmed by the social gamer's
event earlier this week, which saw Zynga announce several new games and a new social network.
Zynga shares closed down 2.34% on Wednesday.
(QCOM - Get Report)
, which announced plans for a new corporate structure early on Thursday, slipped 0.64% to $54.56 before market open.
Embattled Canadian handset maker
Research In Motion
, which reports its first-quarter results after market close, was up 0.33% to $9.21 in premarket trading.
Analysts surveyed by
are looking for RIM to report a loss of 1 cent a share on revenue of $3.11 billion, compared to earnings of $1.33 a share and sales of $4.9 billion in the same period last year.
will be live-blogging RIM's first-quarter earnings, starting at 3:45 p.m. EDT.
--Written by James Rogers in New York.
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