4 Tech Stock Stories Ready for Midweek Download
BlackBerry (NASDAQ:BBRY): Closing price $9.21
A company spokesperson says that three more mid-level executives at BlackBerry Ltd. have or are in the process of exiting as the embattled smartphone maker continues to reduce costs as sales slump. The departures of Vice Presidents Doug Kozak, Carmine Arabia, and Graeme Wittington, first reported by the Canadian Broadcasting Corp., follow a series of recent executive exits and BlackBerry’s step in July to lay off 250 employees from a research and testing arm.
The spokesperson said in a statement that the firm is in “the second phase of our transformation plan where we will be assessing our organization — from top to bottom — to ensure we have the right people in the right roles with the right skill sets to drive new opportunities in mobile computing.”
Apple Inc. (NASDAQ:AAPL): Closing price $464.98
On Wednesday, the Federal United States Circuit Court of Appeals in Washington ruled that Apple should be permitted to renew its arguments at the International Trade Commission that Google’s Motorola Mobility division violated two patents linked with the iPhone. The court found that the ITC was in error when it invalidated one Apple patent, and decided that Motorola did not infringe another. Afterwards, the court returned the case to the ITC for further analysis of those matters under different legal standards. A spokeswoman for Apple would not comment.
Baidu Inc. (NASDAQ:BIDU): Closing price $135.33
The Nikkei reports that internal documents of a number of Japanese firms, including Honda Motor Co. and Panasonic Corp., were leaked to a file-sharing service run by Baidu Inc. Honda Motor has asked Baidu, which is China’s number-one search engine, to delete the data, including sales materials with photos and specifications of a vehicle that is not thus far on the market. The consumer electronics firm Panasonic did not reveal details about the documents, but did say that the leaked information was unimportant, according to the Nikkei.
Sony Corp. (NYSE:SNE): Closing price $20.13
A knowledgeable source says that the billionaire investor Daniel Loeb wants Sony Corp. to set goals for improving its entertainment business, following his plans for a partial sale of the unit being turned down. Loeb, who runs the Third Point LLC hedge fund, does not plan for a proxy fight and likely will not exercise his right to call a special meeting, said the source, who added that Loeb will probably visit with Sony Chief Executive Kazuo Hirai in the coming months.
Third Point controls a 6.9 percent interest in Sony and expects significant progress in results from the company by May 2014.
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