NEW YORK (
Research In Motion
shares plunged in premarket trading on Wednesday after the embattled Canadian handset maker forecast an
for its fiscal first quarter, and said it has hired bankers to help with its strategic review.
Shares of RIM, which made the announcement after market close on Tuesday, were down 9.97% to $10.11 before market open. The BlackBerry maker's stock closed up 2.09% on Tuesday.
CEO Thorsten Heins said that the company would report a first-quarter loss, but didn't provide specific guidance.
RIM also announced plans to cut its work force, and confirmed that it has hired
Royal Bank of Canada
to help with its review of operations and business.
Rocked by delayed product launches, and
Android phones, and, increasingly,
Windows phones, investors have fled RIM in droves. The company's stock is down more than 22% this year and even the first glimpse of the overdue
operating system earlier this month has done nothing to placate investors.
RIM was also the most active
stock on Wednesday on share volume of 566,772.
dipped before market open, slipping 0.35% to $28.74. Shares of the social networker closed down 9.62% at $28.84 on Tuesday. Facebook's stock briefly hit $28.65 during Tuesday trading, its lowest point since the company's IPO earlier this month.
Facebook, which is
to be eyeing an entry into the smartphone market, was also one of the most active Nasdaq stocks on share volume of 386,534.
shares slipped 0.67% to $568.45 in premarket trading on Wednesday, despite some tantalizing comments on future products from CEO Tim Cook. Speaking at the D: All Things Digital conference in Rancho Palos Verdes, Calif., late on Tuesday, Cook hinted at enhancements to the Siri voice tool, but was guarded on the company's rumored Apple TV.
"It's an interesting area. We'll have to see what we do," he replied, in response to a question on Apple's TV plans, according to
Cook also said that Apple could do more with Facebook,
The New York Times
reported. "Stay tuned on this one," he added.
Apple was one of the most active Nasdaq stocks in premarket trading on share volume of 94,147.
--Written by James Rogers in New York.
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