This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Facebook, RIM, Qualcomm: Tech Premarket

NEW YORK ( TheStreet) -- Facebook (FB - Get Report) was a big loser in premarket trading on Thursday as investors responded to the company's fourth-quarter results, which were released after Wednesday's closing bell.

Despite beating Wall Street's expectations, Facebook shares fell 5.25% to $29.60 before market open on concerns about the company's spending.

Facebook's costs and expenses rose sharply during the fourth quarter, jumping 82% year over year to $1.06 billion, although Chief Financial Officer David Ebersman told TheStreet that he isn't concerned.

"Our key issues are investments in our people Facebook ended the quarter with over 4,600 employees and infrastructure," he said, during an interview. "We are investing in engagement and monetization, and we're showing the results."

Excluding items, Facebook reported earnings of 17 cents a share on a 40% jump in revenue to $1.585 billion. Revenue from advertising was up 41% to $1.33 billion, accounting for 84% of total revenue. Mobile revenue represented 23% of advertising revenue in the fourth quarter, up from 14% in the third quarter.

The Menlo Park, Calif.-based firm was also the most active premarket Nasdaq stocks on share volume of 5,619,535.

Research In Motion (RIMM) shares were also under pressure before market open despite the long-awaited launch of the company's BlackBerry 10 technology on Wednesday.

The Canadian handset maker, which also changed its name to BlackBerry at a glitzy event in New York, unveiled the much-delayed operating system and two new smartphones -- the touchscreen Z10 and the Q10, which features a physical QWERTY keyboard.

"We have definitely been on a journey of transformation," said CEO Thorsten Heins, kicking off the company's event in New York, adding that BlackBerry will transform mobile communications into mobile computing.

Investors were decidedly unmoved. RIM shares were off 5.95% at $12.96 before market open after tumbling 12.01% in Wednesday's session.

RIM was another of the most active premarket Nasdaq stocks on share volume of 1,565,412.

Qualcomm (QCOM - Get Report) shares, however, climbed 6.64% to $67.75 on share volume of 220,884 after the chipmaker blew past Wall Street's fiscal first-quarter estimates and offered robust guidance.

The San Diego-based firm reported revenue of $6.02 billion, a 29% increase from a year earlier and well above analysts' forecasts of $5.9 billion.

Excluding items, Qualcomm earned $1.26 a share, a rise of 30%. Analysts surveyed by Thomson Reuters were looking for earnings of $1.13 a share.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
AAPL $124.24 0.00%
FB $83.01 0.00%
ERIC $12.83 0.00%
FTNT $33.64 0.00%
QCOM $67.16 0.00%

Markets

DOW 17,678.23 -40.31 -0.23%
S&P 500 2,056.15 -4.90 -0.24%
NASDAQ 4,863.3620 -13.1570 -0.27%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs