Blackberry will buy rival mobile software provider Good Technology. More than half the devices running on Good’s system are Apple products. The move could help Blackberry win over more business customers. The stock closed nearly 2.5 percent lower to $7.28.
Amazon is also bulking up. The company’s cloud computing unit purchased a video processing startup called elemental. Some reports estimate the price tag of the deal was half a billion dollars. Elemental helps smooth out streaming of shows, films and other media content. Amazon shares fell about one percent to $499.
Netflix, this year’s best performing stock, posted its sixth straight day of losses. This is the video-streaming company’s longest losing streak since march. Shares were off more than two percent to $98.79.
And a downgrade for Caterpillar. R.W. Baird reduced its rating on the mining and farming equipment maker to neutral. This as volatility in China could continue to weigh on the company’s shares. The stock fell nearly two percent to $73.10.