Technology Sector Review: Apple’s Block of Eastman Kodak Patents, RIM CEOs Defect
CIBER, Inc. (NYSE:CBR): CIBER announced that it has entered into a purchase agreement to sell its Federal Division and related assets to CRGT Inc., a leading provider of emerging technology solutions for the U. S. federal government and a portfolio company of Veritas Capital. The purchase price is $40M in cash, subject to adjustment.
The shares closed at $4.04, up $0.3, or 8.02%, on the day. Its market capitalization is $291.97 million.
Rimage Corporation (NASDAQ:RIMG): Sees revenue $84M vs. consensus $86.8M.
The shares closed at $11.83, down $1.35, or 10.24%, on the day. Its market capitalization is $121.88 million.
Research In Motion Ltd (NASDAQ:RIMM): The Board of Directors of Research In Motion, or RIM, announced that, acting on the recommendation of its Co-CEO to implement the succession plan they previously submitted to the Board, it has unanimously named Thorsten Heins as President and CEO. Heins was also appointed to RIM’s Board. The Board acted after conducting its own due diligence. Both appointments are effective immediately. Mike Lazaridis, former Co-Chair and Co-CEO, has become Vice Chair of RIM’s Board and Chair of the Board’s new Innovation Committee. As Vice Chair, he will work closely with Heins to offer strategic counsel, provide a smooth transition and continue to promote the BlackBerry brand worldwide. Jim Balsillie remains a member of the Board. Lazaridis said that he decided to move from Co-Chair to Vice Chair of the Board in order to return the public’s focus to what is most important: “the great company we have built, its iconic products, global brand and its talented employees. We have been impressed with his operational skills at both RIM and Siemens. I am so confident in RIM’s future that I intend to purchase an additional $50M of the company’s shares, as permitted, in the open market.” Heins said, “BlackBerry 7 has been well received. We are very excited about PlayBook 2.0 and BlackBerry 10. The reception of our products at this year’s Consumer Electronics Show was encouraging.” The company in the process of recruiting a new Chief Marketing Officer to work closely with their product and sales teams to deliver the most compelling products and services.
The shares closed at $15.56, down $1.44, or 8.47%, on the day. Its market capitalization is $8.15 billion.
Apple Inc. (NASDAQ:AAPL): According to a filing submitted to the U.S. Bankruptcy Court in the Southern District of New York, Apple (NASDAQ:AAPL) has asked the court to block Kodak (NYSE:EK) from obtaining loans using certain patents as collateral, Apple Insider reports. Apple says it believes the disputed Kodak patents actually belong to Apple.
The shares closed at $427.41, up $7.11, or 1.69%, on the day. Its market capitalization is $398.41 billion.
Intel Corporation (NASDAQ:INTC): IMS Nanofabrication AG, or IMS, announced that Dai Nippon Printing Co., Ltd., or DNP, Intel, Photronics Inc. and IMS are commencing a joint electron multi-beam mask writer tool collaboration to advance development of IMS’ electron multi-beam projection technology. The engagement of DNP, a leading merchant photomask supplier to the electronics industry, augments the recent equity funding round announced by IMS that included participation from Intel and Photronics.
The shares closed at $26.71, up $0.33, or 1.25%, on the day. Its market capitalization is $136.01 billion.
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