Stocks to Watch: Facebook, RIM (Update 1)
NEW YORK -- Facebook
The news was first reported Friday by U.K.-based technology Web site Pocket-Lint.
Reports also said Facebook could be planning to release a smartphone sometime next year.
Facebook shares closed Friday at $31.91, well off their initial public offering price of $38.
Shares of Facebook dropped 2.19% in premarket trading Tuesday to $31.21.
Research In Motion
RIM said Karima Bawa, who had been with the struggling company for 12 years, had been in discussions about her retirement for some time.
Bawa's retirement follows last week's departure of Patrick Spence, RIM's head of global sales.
RIM is reportedly is planning a major restructuring soon, with some media suggesting the company will cut from 2,000 to 6,000 jobs.
Retailer Charming Shoppes
Second-quarter net sales were $595 million, up from year-earlier sales of $479.3 million.
Analysts were expecting the company to post fiscal second-quarter profit of 95 cents a share on revenue of $591.25 million.
Bennett Hatfield was named new president in addition to his current role as chief operating officer.
Shares of Patriot Coal ticked up a penny, or 0.41%, in premarket trading Tuesday to $2.47.
-- Written by Joseph Woelfel
>To contact the writer of this article, click here: Joseph Woelfel
>To submit a news tip, send an email to: email@example.com.