Market Preview: A Reason to Rally
And then there's Research In Motion, which reported a much narrower than anticipated loss for its fiscal second quarter after the closing bell as it grew its subscriber base and increased its cash balance.
The BlackBerry maker posted an adjusted loss of $142 million, or 27 cents a share, for its fiscal second quarter ended in August on revenue of $2.87 billion. The performance beat the average estimate of analysts polled by Thomson Reuters for a loss of 46 cents a share in quarter on revenue of $2.50 billion.
The stock, which is down more than 50% this year, was last quoted at $8.55, up nearly 20%, on late volume of more than 16 million.
Also, Facebook (FB) shares were enjoying a 1%-plus pop on volume of more than 700,000 after the social networking giant announced a new functionality to allow users to buy real gifts for their friends through the site.The company said Facebook Gifts will roll out gradually, first becoming available to U.S. users. --Written by Michael Baron in New York.
>To contact the writer of this article, click here: Michael Baron.
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