Technology stocks were moderately higher with shares of
technology companies in the S&P 500 gaining about 0.9% in late
In company news, BlackBerry (BBRY,BB.TO) shares were lower in
late Wednesday trading and the smartphone company today saying
several large Canadian customers were now using its BlackBerry
Enterprise Service 10.
BBRY shares were down 1.25% at $7.12 apiece in late afternoon
trading, just 2 cents off its intra-day low. The stock has a
52-week range of $5.44 to $16.59 a share, losing 48.9% in value
over the past 12 months. BB.TO was down about 1.3% at C$7.85 a
share at Toronto Stock Exchange.
Among the new customers, the company said, are construction
manager Volker Stevin, the City of Waterloo, Ontario and Samuel,
Son & Co. Ltd., a manufacturer of steel pipes and other metal
products. The deals represent a return of sorts for BBRY to its
focus on business customers, with the company citing a recent J.
Gold Associates study concluding the typical enterprise user over
the next year or two will employ between three to five personal
devices and use up to 10 business applications in their jobs.
Also today, Forbes reported CEO John Chen expects BBRY to focus
more on software and services while reducing its reliance on
smartphones - possibly dropping its device business entirely if it
remains unprofitable - in the future as part of a turnaround
strategy he believes will likely take around two years to show
In other sector news,
(+) YHOO, Q1 earnings of $0.38 per share beat by $0.01. Revenue
climbs 1.2% over the same quarter last year to $1.09 bln, in-line
with estimates. GAAP display revenue was unchanged at $463 mln;
search revenue was up 5% to $445 mln.
(-) LLTC, Q3 revenue climbs 10.6% over year-ago levels to $348
mln but narrowly lags Capital IQ consensus by $2 mln. Non-GAAP EPS
of $0.55, excluding $0.07 per share in one-time items, $0.07 better
than estimates. Q4 revenue outlook in-line with Street.
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