Twitter

Facebook

Youtube

Pintrest

RSS

Hindi News | Samay | UP/Uttarakhand | MP/Chhattisgarh | Bihar/Jharkhand | Rajasthan | Aalami Samay
Wall Street : BlackBerry, Facebook lead tech stocks down
Last Updated : 01 Feb 2013 09:31:23 AM IST
Wall Street : BlackBerry, Facebook lead tech stocks down
Wall Street : BlackBerry, Facebook lead tech stocks down

 

Facebook and BlackBerry lost ground on Wall Street on Thursday as investors gave a cool reception to earnings at social network Facebook and the launch of a new smartphone platform by the Canadian firm.


  

 

Facebook traded down 2.7 per cent at USD 30.40 in late morning trade even after results yesterday which topped most analyst estimates.Research in Motion, which rebranded the company as BlackBerry as it launched its new smartphones, tumbled 6.8 per cent to USD 12.84 after getting a lukewarm response to the news.

Facebook, which highlighted a growing shift to mobile usage, reported a USD 64 million profit in the fourth quarter of last year, while revenue grew 40 per cent to USD 1.585 billion.

But analysts expressed concern about news that Facebook expenses jumped 82 per cent to USD 1.06 billion and will keep rising given the company's plan to hire aggressively and invest heavily in datacenters.

Analysts at Jefferies downgraded Facebook, saying profits may be squeezed."While we are broadly supportive of Facebook's longer-term strategy, the material increase in 2013 spending pressures valuation, making the stock less attractive to own on a near-term basis, in our opinion," said Jefferies analyst Brian Pitz..

 But Victor Anthony at Topeka Capital Markets said the dip is a buying opportunity. "We believe Facebook will continue to be one of the primary beneficiaries of the secular ad shift from traditional media to the Internet/mobile," he said.

BlackBerry meanwhile failed to generate buying from its launch of the new platform and devices aimed at competing with Apple's iPhone and others using the Google Android operating system.

"BlackBerry's base is eroding, so time is of the essence and lower-priced devices for emerging markets and a larger screen model must also be in the line-up in order to target a broader audience," said Mark Sue at RBC Capital Markets. "The older demographics represent Blackberry's loyal user base and our study shows that the brand has quite a bit of work to do to attract new users."


Post Your Comment (0 posted):
Post your comment Post Your Comments
Your name :
Your e-mail address :
Your website :
Add your comments :
Please enter the code you see in the image:
Security Code :

Always being under the gaze of the camera makes celeb mishaps all the more visible. Here i

Murder during sex-- its just unbelievable. But this is what happened in America when a tee

Is Bollywood encashing Sunny Leone’s porn image in the movies?

This teenaged girl can't have sex or babies due to rare condition that left her without re

In an age of smartphones, wi-fi and Insta-fame,many MMS scandals of famous Bollywood act

With the World Cup just weeks away, the lingerie version with scantily clad beauties took

Sexy Samantha Ruth Prabhu is a famous Tollywood actress, who mainly works in the Telugu an

Honda will most probably launch the CBR 300R in the month of December after Kawasaki offer

It's not the tall, dark and handsome who rule the Bollywood but some of the shortest actor

In an illuminating article, Esquire writer Tom Junod has declared 42 to be the most alluri

Its homecoming of sorts for gorgeous former Miss Universe Sushmita Sen as she is set to s

Bollywood actress Sunny Leone was looking stunningly beautiful as she walk the ramp as t

Salman Khan a "national boyfriend" this name has been given to him by Karan Johar, Karan

Aamir Khan is fiercely protective about his movies, but the story of Peekay has been leake

Pakistani actress Saba Qamar's “Kambakht” is set to clash with Salman khan’s upcomin

People still think that Manju from Comedy Nights With Kapil is actually Kapil Sharma's rea

Recently, two Pakistani actresses have made inroads into Bollywood. Humaima Malick will be

These women can put to shame celebrities who boast of having a size zero figure. These wom

Rabiya Khan, the mother of deceased Bollywood actor Jiah Khan, assured the Bombay High Co

Another love lady of Akshay Kumar. Bollywood Khiladi has a long list of love affairs Sta

All is not well between the two Khans.

With a string of harrowing incidents that have left the nation enraged, parents have been

Handset maker Oplus Technologies has launched its smartphone, XonPhone 5 in the Indian mar


Samay Live

Samay Live

 

Samay Live
Samay Live
Samay Live
Samay Live
Samay Live
Samay Live
Samay Live
Samay Live

10.10.70.54