The Canadian handset maker, which will unveil its eagerly anticipated BlackBerry 10 devices later this month, was downgraded to underperform from market perform by BMO Capital Markets on Thursday.
"We are growing more cautious on RIM as we leave CES and approach the launch of BB10 devices later this month," wrote BMO analyst Tim Long, in a note. "While BB10 should be a meaningful improvement, we are not expecting the new phones to stem market share losses."
RIM was also one of the most active premarket Nasdaq stocks on share volume of 166,236.Nokia (NOK) was also down before market open, dipping 1.12% to $4.40, despite reporting better-than-expected sales of its Lumia smartphones earlier this week. Facebook (FB), which hosts a major press event next week, dipped 0.38% to $31.18 on share volume of 574,666. Apple (AAPL) shares dipped 0.48% to $521 on share volume of 67,206. Chip design specialist ARM (ARMH) slipped 0.26% to $41.90, while Microsoft (MSFT) gained 0.11% to $26.49. --Written by James Rogers in New York. Follow @jamesjrogers >To submit a news tip, send an email to: email@example.com.
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