NEW YORK (
Research in Motion's
struggles continued this week as the embattled handset maker disappointed Wall Street again by offering up a weak outlook along with its
Excluding items, RIM posted third-quarter earnings of $1.27 per share on revenue of $5.3 billion after market close on Thursday, in line with its
forecast. Analysts surveyed by
were expecting earnings of $1.19 per share on revenue of $5.3 billion.
RIM reported its third-quarter results after market close on Thursday.
For the fourth quarter, however, RIM predicted earnings of 80 to 95 cents a share and revenue between $4.6 billion and $4.9 billion. Wall Street was looking for earnings of $1.18 per share and revenue of $5.1 billion.
and increasingly intense competition from
, RIM has bled smartphone market share this year.
The Canadian tech giant also suffered a recent headline-grabbing
, which resulted in $54 million worth of charges during the third quarter.
The BlackBerry maker also recorded a third-quarter pre-tax provision of approximately $485 million related to its inventory valuation of PlayBook tablets.
With a high level of PlayBook inventory, RIM has increased its promotional activity to get the devices into customers' hands
During a conference call after market close, under-pressure RIM co-CEOs
Mike Lazaridis and Jim Balsillie
announced that they are taking annual salaries of just $1 a year.
RIM shares ended the week down $1.69, or 11.17%, at $13.44.
its life as a public company on Friday, popping 10% to open at $11. The stock, however, slipped back below its $10 IPO price before the session was over, finishing the day at $9.50.
The online gaming company raised $1 billion in the IPO, making the stock offering the largest since Google's in 2004, and valuing the whole company at $7 billion.
The IPO priced at the top of its expected range of between $8.50 and $10 a share, though analysts were mixed about how the shares would perform in the public markets.
Sterne Agee analyst Arvind Bhatia, for example,
coverage of the stock with an underperform rating and said the company's valuation is "not justified."
Last year, Zynga generated a profit of $90.6 million on revenue of $597 million. The company makes money from the sale of virtual goods, such as chickens or cows for its
its fourth-quarter revenue forecast on Monday, citing hard disk drive shortages.
The chipmaker now expects fourth-quarter revenue between $13.4 billion and $14 billion, compared to its prior forecast of $14.2 million to $15.2 million.
The global PC supply chain is reducing inventories and microprocessor purchases as a result of disk drive supply shortages, according to Intel. Shortages, which followed the recent floods in Thailand, are expected to continue into the first quarter, it added.
Intel, however, said that PC sales are expected to be up sequentially in the fourth quarter.
Shares of Intel were down 8 cents, or 0.34%, at $23.23 on Friday.
its fourth-quarter outlook on Wednesday, noting robust demand for its semiconductors.
"We're seeing strength across all our segments," explained Scott McGregor, the Broadcom CEO, during an interview with
shortly after market open. "Smartphones are definitely selling well; we're also seeing infrastructure, we're also seeing products from the home."
Broadcom shares ended the week up 56 cents, or 1.99%, at $28.72.
Investment banks who
November IPO issued
of the daily deals company on Wednesday.
Of the banks that initiated coverage of Groupon on Wednesday, seven gave it a neutral rating while four started it off with a buy.
Groupon's stock closed down 4 cents, or 0.17%, at $23.04 on Friday.
, a joint venture of
, became the first carrier to
the Galaxy Nexus smartphone, which uses the newest version of Google's Android operating system, dubbed Ice Cream Sandwich.
The Galaxy Nexus is made by
, and is the fourth phone in the Nexus series of smartphones. The phone has a 4.65-inch HD Super AMOLED Contour Display, and features a screen resolution of 720p (1280x720).
Verizon shares ended the week up 36 cents, or 0.94%, at $38.78.
Next week, all eyes will be on
when the database giant reports its fiscal second-quarter results after market close on Tuesday.
Written by James Rogers in New York.
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