Canadian stocks rose, rebounding from a seven-month low, after China’s central bank said it will ensure stable money markets and better-than-forecast U.S. data bolstered optimism in the world’s largest economy.
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.
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.
Nortel Networks Corp. , the insolvent Canadian phone-equipment maker, may get as much as $1.1 billion for technology patents that analysts say would benefit potential bidders including Research In Motion Ltd.
Research In Motion Ltd.’s forecast for a first-quarter operating loss tomorrow, its first since 2004, is generating speculation that failure to deliver a best- selling phone will create losses the rest of the year.