Research In Motion, Qualcomm: Tech Winners & Losers
NEW YORK (TheStreet) -- Ubiquiti Networks(UBNT) was a rare bright spot Thursday, up 0.79% to $14.
Earlier this week, the communications technology company announced the dates for its 2012 World Conferences at which it will unveil and demonstrate some new products.
Shares have be trending upward the last two weeks, but have lost about 23% year-to-date.
Research In Motion(RIMM) stumbled as investors await first-quarter earnings after market close.
RIM CEO Thorsten Heins forecasted a first-quarter operating loss, further pressuring the company's stock. Analysts polled by Thomson Reuters expected the beleaguered electronics company to report a loss of 3 cents per share on $3.09 billion in revenue.
Shares of RIM dropped 2.33% to $9.22.
"Our internal reorganization will provide even greater protection for our industry-leading intellectual property portfolio as our products and services businesses seek to accelerate innovation and deliver our products to market quickly," Qualcomm CEO Paul Jacobs explained in the company's statement. "We are confident that this change to our corporate structure will be accomplished with little to no disruption to employees and customers."
Qualcomm shares slumped 2% to $53.81 during Thursday trade.
Earlier this week, Red Hat hosted a summit in Boston to launch the Hybrid IaaS, a cloud computing system to rival VMware's vCloud.
VMware's competitive advantage is its early lead, but shares tumbled 6.15% to $83.22 on Thursday. Red Hat was down 4.34% to $52.06.
--Written by Nathalie Pierrepont in New York.
>To submit a news tip, send an email to: firstname.lastname@example.org.
>Contact by Email.