Technology stocks rallied Wednesday with shares of technology companies in the S&P 500 climbing nearly 1.8% last afternoon.
On Wednesday, Shares of BlackBerry Limited (NASDAQ:BBRY), lost -1.84% to $10.11. The company attained the volume of 6,677,117 shares as compared to its average volume of 9,261,740 shares.
BlackBerry is laying off an unspecified number of workers around the world as the struggling smartphone manufacturer tries to make its device business profitable.
The Canadian company, based in Waterloo, Ontario, said the cuts will impact those working on the software, hardware, and applications side of the business.
“As the company moves into its next stage of the turnaround, our intention is to reallocate resources in ways that will best enable us to capitalise on growth opportunities while driving toward sustainable profitability across all facets of our business,” BlackBerry said in a statement to AFP on Saturday.
A spokeswoman declined to provide additional information about the cuts. The company presently employs about 7000 people internationally.
BlackBerry Limited provides wireless communications solutions worldwide. The company offers BlackBerry wireless solutions, which comprise the sale of BlackBerry handheld devices; and the provision of data communication, and compression and security infrastructure services enabling BlackBerry handheld wireless devices to send and receive wireless messages and data.
The Toronto stock market posted a solid advance Wednesday as the heavily weighted financial sector got a boost from the first round of Canadian bank earnings.
After a triple-digit pullback Tuesday, the S&P/TSX composite index closed up 59.66 points at 15,110.47 after adjusted earnings from both the Bank of Montreal and National Bank surprised on the upside and both raised their quarterly dividend.
Shares of ICICI Bank Ltd. (NYSE:IBN), inclined 0.68% to $10.39, during its last trading session.
ICICI Bank Limited, together with its auxiliaries, provides banking and financial services to the corporate and retail customers. It offers commercial banking, retail banking, project and corporate finance, working capital finance, insurance, venture capital and private equity, investment banking, broking, and treasury products and services.
At the end of Wednesday’s trade, Shares of Office Depot, Inc. (NASDAQ:ODP), gained 0.54% to $9.26.
Office Depot, declared a partnership with Veterans Advantage to reward military veterans and their families with an exclusive 20 percent discount on select purchases at Office Depot and OfficeMax retail stores nationwide or on officedepot.com.
Active duty and stepped down military, veterans, National Guard and Reserve, and their families enrolled in Veterans Advantage are eligible for the discount on office supply purchases. Veterans Advantage discounts are accessible every day on regularly-priced items and can be combined online with the company’s standard free delivery on qualifying purchases of $50 or more within our local delivery areas.
In addition to the exclusive 20 percent everyday savings, Veterans Advantage members will be eligible for a limited-time offer of 300 free business cards (a nearly $20 value) as a Memorial Day gift. Veterans Advantage members may redeem the free business card offer at Office Depot and OfficeMax retail stores through May 31, 2015. Other exclusive savings for members will be refreshed throughout the year.
Office Depot, Inc., together with its auxiliaries, supplies office products and services. The company’s North American Retail division sells an assortment of merchandise, counting office supplies, technology products and solutions, business machines and related supplies, facilities products, and office furniture under various brands through its chain of office supply stores.
Four months into oil’s rebound from a six-year low, the tanker market is sending a clear signal that the rally is under threat, according to Bloomberg.
A sudden surge in demand for supertankers drove benchmark charter rates 57 percent higher in the two weeks through May 20. OPEC will have almost half a billion barrels of oil in transit to buyers at the start of June, the most this year, while analysts say about 20 million barrels is being stored on ships in another indication the glut has yet to dissipate.
The Organization of Petroleum Exporting Countries is pumping the most oil in more than two years, determined to defend market share rather than prices. A record cut to the number of active U.S. drilling rigs and billions of dollars of spending reductions by companies since last year’s price plunge has yet to translate into a slump in barrels produced. The world is producing about 1.9 million barrels a day more crude than it needs, according to Goldman Sachs Group Inc. Bloomberg Reports.
National Oilwell Varco, Inc. (NYSE:NOV), ended its last trade with 0.68% gain, and closed at $50.30.
National Oilwell Varco, Inc. designs, manufactures, and sells equipment and components used in oil and gas drilling, completion, and production; and provides oilfield services to the upstream oil and gas industry worldwide. The company’s Rig Systems segment offers land rigs; offshore drilling equipment packages; and drilling rig components.
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified through the use of such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should/might occur.
