RIM's Disappointment: Tech Weekly

NEW YORK (TheStreet) -- Research In Motion(RIM) dominated tech news this week with its disappointing first-quarter results.

Even though the Ontario, Canada handset maker had previously forecast an operating loss for the quarter, its results were sharply below analysts' expectations. RIM reported an adjusted loss of $192 million, or 37 cents a share, on revenue of $2.81 billion, down 43% from revenue of $4.91 billion in the year-ago period.

RIM also delayed the launch of its BlackBerry 10 smartphone until the first quarter of 2013, and announced plans to lay off roughly 30% of its workforce.

Shares of RIM closed the week down 25% at $7.39.

Shares of Zynga(ZNGA) sank as investors were underwhelmed by the new games and strategy unveiled by CEO Mark Pincus during a press event on Tuesday.

Pincus highlighted a new game called The Ville as well as a social network at the "Zynga Unleashed" event.

The stock fell 9.3% during the week to close at $5.44.

Cisco's(CSCO) star executive Ned Hooper announced his departure from the largest maker of computer-networking gear on Tuesday.

Hooper is leaving his role as Chief Strategy Officer for an investment partnership firm. Padmasree Warrior, Cisco's Chief Technology Officer, will oversee strategy going forward.

Shares edged up 0.2% during the week to $17.17.

Wednesday marked the first day that firms involved in Facebook's(FB) initial public offering could initiate analyst coverage of the social media company.

The sell side's view of the social networking giant was mixed, driving shares south on Wednesday.