Today in business: 5 things you need to know

BlackBerry's shares get hosed, Russia's Gazprom struggles, and more

Blackberry didn't ship as many new smartphones as it would have liked.
(Image credit: Scott Olson/Getty Images)

1. BLACKBERRY'S SHARES GET HOSED

BlackBerry's shares fell almost 25 percent by midday Friday, after the company reported less-than-expected shipments of the BB10 model BlackBerry, as well as a higher-than-expected drop in subscribers. The company said it would probably post a loss for the first fiscal quarter. Analysts had expected a gain. "This is a marathon,"said BlackBerry CEO Thorsten Heins. And "with the financials that we have under our belt, we are ready to run that marathon, and that's what we're doing. So I'm not looking at this as short-term."[MarketWatch]

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Carmel Lobello is the business editor at TheWeek.com. Previously, she was an editor at DeathandTaxesMag.com.