Stocks Close Quarter With Rocky Session
In corporate news, Research In Motion (RIMM) was in rally mode after the BlackBerry maker reported a much narrower-than-anticipated loss in the fiscal second quarter as its subscriber base grew and its cash balance increased. The stock gained 5%.
Shares of Facebook (FB) rose 6.6% after the social networking giant announced a new functionality to allow users to buy real gifts for their friends through the social networking site. The company said Facebook Gifts will roll out gradually, first becoming available to U.S. users.
Groupon (GRPN), the daily deals site, is reshuffling senior management roles in an attempt to fix its struggling European business -- a shake-up that will also include the departure of its chief of international business, according to a report from Reuters. Shares lowered 0.31%.
Walgreen (WAG) said fiscal fourth-quarter net income declined 55% from the same period last year after a larger than forecast drop in sales at the drugstore chain. Shares slipped 0.44%.
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