U.S. stocks pared gains in the final minutes of trading before changes in MSCI indexes, offsetting a rally among homebuilders and technology shares. The Nasdaq Composite Index topped 4,000 for first time in 13 years.
Apple Inc. is shifting production of iPhone and iPad displays to Sharp Corp. in Japan and may introduce a television with screens from the same partner as early as the middle of 2012, Jefferies & Co. said.
Buried in the avalanche of bad news in BlackBerry Ltd.’s latest quarterly results was a 32 percent increase in companies installing its servers. The gain may hold the key to the company’s survival, whether or not a tentative $4.7 billion offer to take the smartphone maker private works.
BlackBerry Ltd., the smartphone maker looking to go private in a $4.7 billion deal, is seeing support from suppliers, bank customers and partners wobble amid speculation the company may stop producing hardware.
BlackBerry Ltd.’s decision to consider takeover offers is fueling speculation that investors could band together to keep the company in Canadian hands, avoiding the national embarrassment that followed Nortel Networks Corp.’s failure four years ago.
BlackBerry Ltd. Chief Executive Officer Thorsten Heins, who is trying to take the smartphone maker private in a $4.7 billion deal, said he was “very disappointed” in last quarter’s results as the company’s sales plunged, especially in the Americas.
BlackBerry Ltd.’s withering smartphone business means potential acquirers will pick over its more alluring assets, including software and patents, which together may be worth about $5 billion, roughly in line with the company’s current market value.