James Bullard said he dissented on this week's Fed decision to lower rates by a quarter percentage point because he didn't think the cut was big enough.The Fedread more
More than 400 Chinese products will be temporarily exempted from tariffs that President Donald Trump's administration imposed last year.China Economyread more
"I feel like I've contributed all I can to this primary election," he told MSNBC's "Morning Joe." "And it's clearly not my time. So I'm going to end my presidential campaign."2020 Electionsread more
Apple will get a taste of whether upgraded features on the new iPhone 11 are enough to lure shoppers to retail stores around the world as the new smartphones officially hit...Technologyread more
The complaint made by an unnamed intelligence official about the president centers on Ukraine, the Washington post reported.Politicsread more
The Pentagon on Thursday said the recent attack on Saudi Arabian oil facilities were "sophisticated" and represented a "dramatic escalation" in tensions within the region.Defenseread more
U.S. stock futures are modestly higher, with the S&P 500 just a little more than 20 points away from July's all-time high ahead of Friday's open on Wall Street.Marketsread more
Bank of America says Amazon's plans to build its own fleet of carbon-neutral delivery trucks bode well for its bottom line.Investingread more
The show comes as social media platforms and legacy media companies alike have launched a flurry of original content alongside new streaming platforms like Apple TV+ and...Technologyread more
Pivotal Research Group began coverage of Roku with a sell rating on FridayInvestingread more
Two sites were hit on Saturday — the Abqaiq and Khurais oil facilities — which took out 5.7 million barrels per day of crude oil production.World Politicsread more
BlackBerry said Friday it will slash 4,500 jobs, or above 40 percent of its workforce, as part of a restructuring and announced preliminary earnings and revenue that fell short of Wall Street's estimates.
As part of the massive restructuring, the struggling company said it targets reduction of its operating expenditures by approximately 50 percent by end of the first quarter in fiscal 2015.
Trading in shares of BlackBerry had been halted due to "news pending" on both Nasdaq and the Toronto Stock Exchange.
In the minutes after trading resumed at 3:35 pm ET, the shares plunged as much as 23 percent to $8.06, before bouncing back a bit from its low. They closed at $8.83, down $1.79 or 17.1 percent.
Before the late-session halt, BlackBerry was priced at $10.27, down $0.25 or 2.38 percent on the day.
(Read more: Record iPhone debut isn't a 'victory lap' yet: Pro)
"The company has sailed off a cliff," said Collin Gillis, an analyst at BGC Partners. "What do you expect when you announce you're up for sale? Who wants to commit to a platform that could possibly be shut down?"
Following the news, David Garrity, a principal at GVA Research, said "today's announcement just brought the end game a lot closer."
Garrity estimated the value of its intellectual property between $5 and $6 per share. "There's still that intellectual property portal that's going to be of value to somebody," he added.
The company said its sees a second-quarter loss excluding items of 47 cents to 51 cents per share, more than the 27-cent loss per share share in the year-earlier period.
It expects revenue to decline to $2.6 billion from $3.1 billion a year ago.
Analysts had expected the company to report a loss excluding items of 15 cents a share on $3.06 billion in revenue, according to a consensus estimate from Thomson Reuters.
There has been speculation about a possible sale of the company. Earlier this month, Dow Jones reported the struggling handset maker was trying to quickly auction itself off.