RIM, Facebook, Micron: Tech Premarket
The embattled Canadian handset maker reported a narrower-than-expected loss, pushing the company's shares up 14.71% to $8.19 before market open.
RIM posted an adjusted loss of 27 cents a share, down from earnings of 80 cents a share in the same period last year, but better than Wall Street's projected loss of 46 cents a share.
The Waterloo, Ontario-based firm reported revenue of $2.9 billion, down from $4.2 billion in the prior year's quarter, but above analysts' sof $2.5 billion.RIM's BlackBerry subscriber base also increased to about 80 million. The BlackBerry maker was also the most active premarket Nasdaq stock on share volume of 4,964,356. Facebook (FB - Get Report) was another gainer, rising 1.03% to $20.53. Late on Thursday the social networker announced Facebook Gifts, a way for people to give real gifts to their friends on Facebook. The service, which will initially be offered to consumers in the U.S., will be rolled out gradually to other parts of the world. A note on the Web site's Facebook Gifts page says that the offering is "coming soon." Facebook was also one of the most active premarket Nasdaq stocks on share volume of 190,571. Micron Technology (MU - Get Report) shares slipped 1.08% to $5.95 in premarket trading after the flash memory specialist posted weaker-than-expected second-quarter results after market close on Thursday. --Written by James Rogers in New York. Follow @jamesjrogers >To submit a news tip, send an email to: email@example.com.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts