Technology shares are lower in pre-bell trading. Fairfax
Financial CEO Prema Watsa, who is resigning from Blackberry's board
to avoid a conflict of interest as the company explores a sale,
said he has no current intention of selling its shares in
). Blackberry shares are are up more than 6% at $10.33 after an
earlier trading halt.
And, Perion Network (
) has entered into, and launched, a multi-year search and
distribution relationship with Yahoo! Inc. Terms of the deal were
not disclosed. Through this agreement, Yahoo!'s search marketplace
and search experience is available to Perion's customer base. PERI
is down 10% at $10.90.
Separately, WebMD Health (
) says it began a tender offer to purchase up to 5 million shares
of its stock for $34 each. It represents about 10% of shares
outstanding. The tender offer will expire at 5:00 p.m., New York
City time, on Tuesday, September 10. Also this morning, WebMD says
it named David J. Schlanger as CEO and Steven L. Zatz, M.D. as
president. Schlanger has been interim CEO since May. WMD is flat at
$33.40 in pre-market.
Also, Tessera Technologies (
) says that FLIR Systems has acquired a significant portion of the
assets of Tessera's Micro-Optics business based in Charlotte, North
Carolina. Total consideration paid by FLIR was approximately $15
million. TSRA is flat at 18.96 pre-bell.
Finally, Rambus (
) says it plans to offer $100 million aggregate principal amount of
its convertible senior notes due 2018 in a private placement to
qualified institutional buyers. It also expects to grant the
initial purchasers of the notes a 30-day option to purchase up to
an additional $15 million aggregate principal amount of the notes
to cover over-allotments, if any. RMBS is flat at $9.22.