Research In Motion Limited (NASDAQ: RIMM), the maker of BlackBerry smartphones, is soaring in mid-day trading today, extending its gains from Friday. RIMM had finished nearly 14% higher on Friday. In today’s trading, the stock is currently up 9.29% to $14.82 on volume of 81.62 million, which is significantly above the daily average volume of 45.06 million.
RIMM is soaring after Sprint Nextel Corp. (NYSE: S), the third-largest wireless carrier in the U.S., said that it will carry the upcoming BlackBerry 10. RIMM will launch the new BlackBerry 10 operating system later this month, along with two new phones.
RIMM has broken through $14 resistance level as a result of the sharp rise today.
Facebook Inc. (NASDAQ: FB), the social networking giant, is down sharply in mid-day trading today. FB is seeing a pullback in trading today as investors take profit after last week’s rally that saw the stock cross $30 mark for the first time in six months.
FB is currently trading 2.47% lower at $30.94 on volume of 57.56 million, which is below the daily average volume of 67.76 million. Despite the losses, the stock is still up more than 7.5% in the last five trading sessions.
FB has slipped in trading today even as analysts at Deutsche Bank upgraded the stock from Hold to Buy rating.
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