BlackBerry Disappoints, but This Space Stock Is Falling Even Harder

Investors in the stock market tried to put a tough first quarter behind them on Friday morning, and it looked as though the second quarter would get off to a reasonable good start. As of 8 a.m. ET, futures on the Dow Jones Industrial Average (DJINDICES: ^DJI) were up 164 points to 34,782 as investors awaited the latest news on the employment front. S&P 500 (SNPINDEX: ^GSPC) futures gained 21 points to 4,551, and Nasdaq Composite (NASDAQINDEX: ^IXIC) futures rose 78 points to 14,947.

Unfortunately, some stocks weren't able to do as well as the overall market. BlackBerry (NYSE: BB) saw its stock fall after reporting its latest financial results. Yet its declines were small compared to the much more extensive fall for a newly public stock in the space industry. Read on to find out more about both companies and why their shareholders aren't celebrating Friday.

Shares of BlackBerry were down more than 4% in premarket trading on Friday morning. The former smartphone giant's fourth-quarter and full-year fiscal 2022 results didn't inspire a huge amount of confidence in the trajectory of its turnaround efforts, despite showing at least some progress.

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Source Fool.com