Oculus is a virtual reality company that Facebook acquired last year for $2 billion.
Oculus announced on Thursday that it remains on-schedule to launch pre-orders for its virtual reality system known as Rift. The product is expected to cost at least $350, USA Today reports.
Additionally, Facebook delayed the release of Touch, which is a motion controller, until the second half of 2016. The product was originally supposed to launch at the same time as Rift, Tech Crunch reports.
"On Touch hardware, we've made significant advances in ergonomics, and we're implementing many changes that make Touch even more comfortable, reliable, and natural. We're also implementing changes that improve hand pose recognition," Oculus said in a statement on Thursday. "We're also outputting larger numbers of pre-production runs, which means we can get a lot more Touch hardware in the hands of developers who need it."
Facebook stock is down by 1.33% to $104.81 in late afternoon trading on Thursday.
Separately, recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:
We rate FACEBOOK INC as a Buy with a ratings score of B+. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, good cash flow from operations, growth in earnings per share and expanding profit margins. We feel its strengths outweigh the fact that the company has had somewhat disappointing return on equity.