BlackBerry’s six-month stock rally, fueled by speculation that a new smartphone lineup can turn its fortunes around, has created the largest gap between investor optimism and analyst skepticism of any major company in Canada.
U.S. stocks rose, snapping a three- day decline in the Standard & Poor’s 500 Index, as the Federal Reserve will keep up its bond buying to stimulate the economy and euro-area leaders weighed options for Cyprus.
Aruba Networks Inc., a maker of computer-networking gear, rose to the highest price in more than four months in intraday trading after Morgan Stanley upgraded its rating and recommended buying the shares.
BlackBerry shares tumbled 12 percent after the company’s long-awaited BlackBerry 10 debut, signaling that investors are skeptical the new models can win back customers from Apple Inc. and Google Inc.’s Android.
Research In Motion Ltd. fell after replacing co-Chief Executive Officers Jim Balsillie and Mike Lazaridis with an insider who said he sees no need for radical change as the company struggles to compete with Apple Inc.