Blackberry posted another loss, but it was smaller than expected. The smartphone maker’s cost-cutting efforts helped its profit margins in its latest quarter. Still, revenue was short of estimates, but the CEO says the company will double its software revenue next year. Shares popped, up more than four percent to $10.26.
Yahoo & AOL
An activist investor is taking aim at Yahoo. Starboard Value sent an open letter to the tech giants CEO, Marissa Mayer, outlining ways for the company to unlock shareholder value. One of those suggestions was to combine with AOL. Shares were up four percent to $40.66. That also sent AOL shares higher by more than three percent to $44.55.
Shares of Finish Line tripped and tumbled in today’s session. The shoe retailer reported disappointing results. Its profit ticked down in its second quarter as higher costs, expenses and write downs but into its sales. The stock plunged more than 14 percent to $25.11.
Hedge fund Standard General is in talks with lenders, working on a plan to improve RadioShack’s cash position to help the company avoid bankruptcy, according to a securities filing. The struggling electronics retailer warned investors this month that it’s running out of cash and could have to seek bankruptcy court protection . The news gave investors some hope, sending shares up almost 24 percent to 99-cents.