Shares of BlackBerry Limited (BBRY) are higher by 5% to $8.19 in pre-market trading on Friday after the company reported Q3 EPS and revenue that topped analysts’ expectations. The smartphone-maker handed in earnings of ($0.03) per share on revenue of $548 million, beating Wall Street estimates of ($0.15) per share on revenue of $487.98 million.
BBRY has lost 29% of its value since the beginning of the year. The stock has fallen 22% in the last 12 months.
Morgan Stanley (MS) – The WSJ reports the investment banking giant plans to cut up to 5% of its stock-trading staff early in 2016, as it performs an annual assessment of its less critical staff.
Shares of Apple Inc. (AAPL) were down marginally in pre-market hours following the co.’s announcement that it will launch its Apple Pay service in China along with state-controlled payment firm UnionPay as early as next year.
China’s mobile payment market is currently dominated by AliPay which is a co-venture between Alibaba Group (BABA) and Tencent Holdings Ltd.
Shares of Qihoo 360 Technology Co. Ltd. (QIHU) were up more than 1.50% at $72.93 this morning after the co. said it agreed to be acquired by a consortium of investors in a deal valued at about $9.3 billion, or $77.00 for each ADR.