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Pier 1 stock sinks; BlackBerry surprise beat; Rite Aid profits fall

Hot Stock Minute

Here is a look at some of the stocks the Yahoo Finance team will be watching for you today.

BlackBerry (BBRY) shares jumped in early trading after it reported a smaller-than-expected loss of $0.11. Revenue fell 69%, but beat estimates by almost $3 million. Yesterday, the company announced a deal with Amazon (AMZN) in which BlackBerry will have access to Amazon's app store. Access to the store will begin in the fall with the new version of the BlackBerry 10 operation system.

Facebook (FB) in the spotlight . The social networking giant is back up and running after a global outage early this morning did not allow users to log on for a half an hour. Users quickly turned to other social networks such as Twitter (TWTR)  to express their frustration.

Shares of Pier 1 Imports (PIR) fell before the bell. The home furnishings retailer cut its profit outlook for the year. The company said that deep discounts will continue to put pressure on margins after it reported earnings and revenue that missed analysts' estimates. However, same-stores sales rose 6.3% from a year earlier

Rite Aid (RAD) stock was down in the pre-market after it reported profits fell nearly 54% on higher-than-expected drug costs and a bigger-than-anticipated drop in reimbursement rates. But earnings met analysts' estimates and revenue was up nearly 3% from a year ago, topping expectations.

Shares of Red Hat (RHT) soared in early trading. The world's largest distributor of the open source Linux computer operating system raised its full-year profit and revenue outlook. After first-quarter earnings and revenue topped estimates thanks to demand for its cloud software used in data-centers. The company also said it would buy privately-owned eNovance a provider of open-source cloud computing services, for about $95 million in cash and stock.  

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