Active Stock Radar: RIM Shares Regress, BofA and Alcoa Pump Dow Up
Research in Motion (NASDAQ:RIMM) shares plunged more than 7 percent in post market hours. The BlackBerry maker announced it hired JPMorgan (NYSE:JPM) and RBC Capital Markets to review the company’s business and financial performance. RIM has seen its market share dwindle over the years as Apple Inc.’s (NASDAQ:AAPL) iPhone has gained popularity.
After closing 9.62 percent lower during regular trading. Facebook (NASDAQ:FB) shares continued to edge lower in late trading. The social-media giant is reportedly expanding its efforts on creating a smartphone. Nick Bilton from the New York Times writes, “One engineer who formerly worked at Apple and worked on the iPhone said he had met with Mark Zuckerberg, Facebook’s chief executive, who then peppered him with questions about the inner workings of smartphones. It did not sound like idle intellectual curiosity, the engineer said; Mr. Zuckerberg asked about intricate details, including the types of chips used.” Also, Facebook options are now available for trading. Thus, providing investors with a cheaper way to play Facebook shares.
Bank of America Corp. (NYSE:BAC) shares closed 4 percent higher on Tuesday and continued to climb higher in extended trading. The JPMorgan multi-billion dollar loss fall-out has investors running towards banks with less publicized problems.
Despite trading near 52-week lows, shares of Alcoa Inc. (NYSE:AA) popped 3 percent during regular trading. Shares of the aluminum company were one of the best performers in the Dow Jones Industrial Average on Tuesday as value investors explored the industrial sector.
Lululemon Athletica Inc. (NASDAQ:LULU) shared edged slightly lower in late trading, despite Wedbush Securities initiating coverage on the athletic apparel maker with an Outperform rating. The firm also placed a price target of $90 on shares.
Investor Insight: Innovation Trumps Status Quo: Rising Stars in Today’s Tech Battle