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Research in Motion (NASDAQ:RIMM) shares surged 20 percent after reporting a smaller-than-expected quarterly loss. The company posted a loss of 27 cents per share, compared to estimates for a loss of 46 cents per share. RIM also reported revenue of $2.87 billion, beating estimates of $2.5 billion. Nokia (NYSE:NOK) shares edged slightly higher on the news.
Shares of Nike (NYSE:NKE) fell more than 2 percent in late afternoon trading. The company said net income dropped 12.1 percent to $567 million ($1.23 per share) for its first quarter, compared to $645 million ($1.36 per share) a year earlier. It was the fifth straight quarter that the company saw shrinking gross margins, as gross margin fell 0.8 percent to 43.5 percent from the year earlier quarter. In that period, margins have contracted an average of 1.9 percentage points per quarter on a year-over-year basis.
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Facebook (NASDAQ:FB) shares jumped 1.4 percent in late afternoon hours. The social-media giant is launching a new service that allows users to purchase real products for their friends. The move into e-commerce is called Gifts, and will roll out over the coming months.
Shares of Micron Technology (NASDAQ:MU) edged slightly higher, despite reporting a loss of $243 million (24 cents per share) for its fourth quarter. In comparison, the company posted a loss of $135 million (14 cents per share) a year earlier. “In 2012, despite difficult market conditions and lower average selling prices, we continued to execute on our technology and manufacturing roadmaps and moved our products increasingly into premium segments. Our focus throughout 2013 is to drive additional cost reductions and advance our leading-edge memory technology to achieve increased manufacturing efficiencies,” said Micron CEO Mark Durcan.
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