Simona Jankowski News
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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.
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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.
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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.
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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.
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Canadian stocks fell to the lowest level in about a month, as raw-material and energy producers declined after enthusiasm for Cyprus’s bailout deal waned.
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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.
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Research In Motion Ltd. gained after Goldman Sachs Group Inc. upgraded the stock to buy, saying the new BlackBerry 10 phones could help it return to profitability in fiscal 2014.
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Goldman Sachs Group Inc. advised investors to sell BlackBerry maker Research In Motion Ltd., citing escalating competition, as at least five other firms raised price estimates for the stock.
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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.
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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.
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