Juniper Networks Inc. fell after the second-biggest maker of computer-networking equipment forecast profit and sales that were below some estimates amid weak sales to telecommunications providers and big companies.
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.
BlackBerry, which is attempting a comeback with a new lineup of smartphones, reported a surprise profit in the fourth quarter after embarking on a cost-cutting program last year, even as sales continued to trail projections.
BlackBerry shares tumbled for a second straight day after Goldman Sachs Group Inc. cut its rating on the struggling smartphone maker, citing a disappointing debut for the company’s Z10 phone in the U.S.
Juniper Networks Inc., the No. 2 maker of networking gear, dropped the most in five months after a Goldman Sachs Group Inc. analyst downgraded the stock, citing competition from Cisco Systems Inc. and Alcatel-Lucent.
U.S. stocks gained this week, pushing the Dow Jones Industrial Average to its first close above 12,000 since June 2008, as corporate earnings, an expansion of American and Chinese manufacturing and an unexpected decrease in the unemployment rate overshadowed unrest in Egypt.
Cisco Systems Inc., the largest maker of computer-networking gear, faces fresh threats to its profit margins from a new breed of software that’s helping customers handle data traffic with fewer switches and routers.