NEW YORK (
Research In Motion
was the biggest loser in premarket trading on Friday, falling 14.35% to $7.82 as the handset maker's problems continue.
The embattled Canadian handset maker posted weaker-than-anticipated
after market close on Thursday. RIM reported revenue of $2.81 billion, down from $4.91 billion in the same period last year, and well below analysts' estimate of $3.07 billion.
Investors also balked at the company's bottom line as RIM reported an adjusted loss of $192 million, or 37 cents a share. Analysts surveyed by
were looking for a loss of 4 cents a share.
RIM also announced 5,000 job cuts, as well as another delay for its long awaited BlackBerry 10 technology.
"Our top priority going forward is the successful launch of our first BlackBerry 10 device, which we now anticipate will occur in the first quarter of calendar 2013," said CEO Thorsten Heins, in a statement released after market close.
RIM was the most active premarket
stock on heavy share volume of 971,317.
(NVDA - Get Report)
, however, was one of tech's big gainers, climbing 2.95% to reach $13.63 as semiconductor stocks ticked upward. Shares of the graphics specialist were lifted by news earlier this week that
Nexus 7 tablet will
the company's Tegra 3 quad-core CPU.
Nvidia is also enjoying positive sentiment from analysts. Canaccord Genuity, for example, upgraded Nvidia to buy earlier this week, citing the strength of its Tegra technology and its Kepler chips.
was also one of tech's gainers, rising 1.82% to $23.45. ARM was another active premarket stock on share volume of 233,050.
(INTC - Get Report)
rose 1.51% to $26.22 before market open.
--Written by James Rogers in New York.
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