Technology stocks are lower, with shares of technology companies
in the S&P 500 declining almost 0.5%.
In company news, Blackberry Inc (
) is again even at $8.14 a share, drifting lower from a sharp rally
shortly before 1 p.m. ET that followed speculation private equity
firm Cerebus Capital Management was set to announce a deal for all
or some of the struggling smartphone company's assets.
Canadian business news broadcaster BNN this afternoon was
reporting Cerebus has signed a non-disclosure agreement allowing it
to examine BBRY's financial books.
BBRY already has a $9-a-share offer on the table from Fairfax
Financial (FFH.TO), although several news outlets have said the
Canadian financial services company has run into difficulties
pulling together funding for the deal. Former BBRY co-CEO Mike
Lazaradis reportedly has also been working to form a consortium for
a rival bid.
In other sector news,
(+) MTSL, (+41.9%) Inks three-year contract with SBC
Communication to supply the cable, telephone and Internet access
provider with mobile virtual-network enabler services.
(-) TDC, (-17.5%) Reduces Q3 EPS forecast by as much as $0.40 to
a new range of $2.70 to $2.80 per share, trailing the Thomson
Reuters consensus by at least $0.03. Also sees little growth from
year-ago levels, also lagging the Street view.
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